{"id":93060,"date":"2025-01-05T00:00:00","date_gmt":"2025-01-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/05\/stc-transfers-its-entire-stake-in-tawal-to-pif\/"},"modified":"2025-01-05T00:00:00","modified_gmt":"2025-01-05T00:00:00","slug":"stc-transfers-its-entire-stake-in-tawal-to-pif","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/05\/stc-transfers-its-entire-stake-in-tawal-to-pif\/","title":{"rendered":"Stc transfers its entire stake in Tawal to PIF"},"content":{"rendered":"

Stc has finalized the sale of its 51% stake in <\/strong>Telecoms<\/a><\/strong><\/a><\/strong>Towers Company<\/a><\/strong>(better known as<\/a><\/strong>Tawal)<\/a><\/strong> to its majority owner the Public Investment Fund (PIF)<\/strong>, according to a disclosure to Tadawul<\/a>. PIF-owned Golden Lattice Investment (Glic)<\/a> is also being transferred to a newly-established entity, as part of a merger that has been in the works since 2022<\/a>. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

REFRESHER- <\/strong>The PIF and stc have been working to consolidate Tawal and Glic under a new entity<\/a> that is going to own and manage a portfolio of around 30k towers across five countries. The new entity will have annual revenues in the order of USD 1.3 bn.<\/p>\n

Who will own what?<\/strong> The PIF will hold a majority stake of 54%, while stc will hold 43%, along with minority shareholders holding a combined 3%. Stc will also have to inject SAR 533 mn into the new entity for its shareholding amount to settle at 43%, bringing the capital of the new entity at SAR 1.2 bn, according to our calculations.<\/p>\n

Talking valuation:<\/strong> Tawal is valued at SAR 22 bn, and Glic is valued at SAR 3 bn \u2014 both valuations are excluding the companies\u2019 cashflow and debt obligations.<\/p>\n","protected":false},"excerpt":{"rendered":"

PIF and stc are consolidating Tawal + Glic under a new entity<\/p>\n","protected":false},"author":1,"featured_media":93061,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[10,14,2632,680],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam-ksa","tag-ma-watch","tag-stc","tag-telecoms","wpautop","entry"],"acf":{"mongo_id":"2ef744f1-d993-4359-81ef-fd64c624be06","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1097.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Stc transfers its entire stake in Tawal to PIF","related_issue":[93050],"teaser":"PIF and stc are consolidating Tawal + Glic under a new entity","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.5f8e76ce-3555-46f9-81d3-d263f59ba69a.mp3"},"yoast_head":"\nStc transfers its entire stake in Tawal to PIF - 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