{"id":89716,"date":"2024-09-17T00:00:00","date_gmt":"2024-09-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/circle-k-alsulaiman-acquires-major-stake-in-mazaya-fuel\/"},"modified":"2024-09-17T00:00:00","modified_gmt":"2024-09-17T00:00:00","slug":"circle-k-alsulaiman-acquires-major-stake-in-mazaya-fuel","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/circle-k-alsulaiman-acquires-major-stake-in-mazaya-fuel\/","title":{"rendered":"Circle K Alsulaiman acquires major stake in Mazaya Fuel"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Circle K Alsulaiman has acquired a majority stake in fuel services company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/mazayafuel.com\/\" style=\"\" rel=\"noopener\">Mazaya Fuel<\/a><\/strong>, which has upwards of 130 fuel stations across the Kingdom, Alsulaiman Group said in <a target=\"_blank\" href=\"https:\/\/alsulaimangroup.com\/ar\/circle-k-alsulaiman-announces-majority-acquisition-of-mazaya-fuel-accelerating-its-growth-in-saudi-arabia\/\" style=\"\" rel=\"noopener\">a statement<\/a>. The move comes as part of Circle K Alsulaiman\u2019s plan to establish more than 500 Circle K fuel stations across Saudi by 2030, with targeted investments of SAR 700 mn in the fuel sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we don\u2019t know:<\/strong> No information was disclosed on the size or value of the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rationale<\/strong>: Alsulaiman Group will rebrand Mazaya Fuel stations under the Circle K name, as part of an Energy Ministry-backed agreement signed <a target=\"_blank\" href=\"https:\/\/spa.gov.sa\/en\/N2140024\" style=\"\" rel=\"noopener\">in June<\/a> \u201cto establish a network of Circle K-branded fuel stations,\u201d the statement says. Circle K \u2014 founded in Texas in 1951 \u2014 operates over 13k stations across 31 countries. Alsulaiman Group is a key player in Saudi\u2019s retail, logistics, and real estate sectors.<\/p>\n<p class=\"tag-border-left\">IN OTHER M&amp;A NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ma\u2019aden eyes stake in Aluminum Bahrain via share swap: <\/strong>Saudi Arabian Mining (Ma\u2019aden) has inked non-binding terms to acquire a 51% stake in Bahrain Bourse-listed Aluminum Bahrain (Alba), it said in <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=82565&amp;anCat=1&amp;cs=1211&amp;locale=en\" style=\"\" rel=\"noopener\">a filing to Tadawul<\/a>. The transaction \u2014 which is pending regulatory approval, due diligence and cross-listing Alba\u2019s shares on Tadawul \u2014 would involve Ma\u2019aden swapping its full share capital of subsidiaries Ma\u2019aden Aluminum, Ma\u2019aden Bauxite and Alumina, for new shares in Alba. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Ma\u2019aden tapped Merrill Lynch as its financial advisor, with AS&amp;H Clifford Chance serving as its legal advisor, while Moelis &amp; Company UK is advising Alba on the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mazaya fuel stations will be rebranded to Circle K<\/p>\n","protected":false},"author":1,"featured_media":89717,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[1187,1186,343,10,14],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-alsulaiman-group","tag-circle-k","tag-energy-ministry","tag-enterpriseam-ksa","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"3b4926ca-58b4-458f-9f52-3f515338ab4c","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1268.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Circle K Alsulaiman acquires major stake in Mazaya Fuel","related_issue":[89707],"teaser":"Mazaya fuel stations will be rebranded to Circle K","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.f023f05d-c39f-4c82-bd4f-3c05177de9f0.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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