{"id":107518,"date":"2025-09-16T00:00:00","date_gmt":"2025-09-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/al-futtaim-closes-cenomi-retail-stake-acquisition\/"},"modified":"2025-09-16T00:00:00","modified_gmt":"2025-09-16T00:00:00","slug":"al-futtaim-closes-cenomi-retail-stake-acquisition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/09\/16\/al-futtaim-closes-cenomi-retail-stake-acquisition\/","title":{"rendered":"Al Futtaim closes Cenomi Retail stake acquisition"},"content":{"rendered":"

Al Futtaim closes acquisition of minority stake in Cenomi\u2026: <\/strong>Al Futtaim Group acquired a 49.95% stake in Cenomi Retail for SAR 2.5 bn (c. USD 667 mn), marking one of the largest foreign investments in a Saudi-listed retail company, according to a press release<\/a> and Tadawul disclosure<\/a>. The transaction was executed through a share purchase transaction from Cenomi\u2019s major shareholders at SAR 44 per share, with Al Futtaim subject to a six-month lock-up period.<\/p>\n

\u2026and provides SAR 1.4 bn loan: <\/strong>Alongside the equity purchase, Al Futtaim has agreed to provide SAR 1.35 bn in shareholder loans, which can be converted into equity subject to shareholder and regulatory approvals. The facility will bolster Cenomi\u2019s balance sheet and give it additional flexibility for expansion. The firm has struggled with losses that resulted in a negative shareholder equity of SAR 991 mn in 1Q 2025, as well as SAR 5.4 bn in liabilities.<\/span><\/p>\n

ICYMI- <\/strong>Saudi Arabia\u2019s General Authority for Competition cleared Al Futtaim\u2019s acquisition of the minority stake Cenomi last month<\/a>, after the two had entered into a share purchase agreement in July<\/a>.<\/p>\n

Also involved: <\/strong>Emirates NBD Saudi Arabia is extending an SAR 1.6 bn credit f<\/a>acility to Cenomi Retail<\/a> to prepay and settle existing bank debts. The loan is conditional on the completion of Al Futtaim\u2019s acquisition. The facility includes a 90-day short-term loan, to be refinanced into a three-year term loan with a possible two-year extension.<\/p>\n","protected":false},"excerpt":{"rendered":"

The transaction was executed through a share purchase from Cenomi\u2019s major shareholders at SAR 44 per share<\/p>\n","protected":false},"author":1,"featured_media":107519,"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":[2392],"tags":[115,260,7,60,642,118],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-107518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-al-futtaim","tag-emirates-nbd","tag-enterpriseam-uae","tag-ma-watch","tag-retail","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"e80c051f-b299-4920-8beb-ee839991e092","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/9\/871.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Al Futtaim is now a minority shareholder in KSA\u2019s Cenomi Retail","related_issue":[107508],"teaser":"The transaction was executed through a share purchase from Cenomi\u2019s major shareholders at SAR 44 per share","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.e729b933-830c-40ab-bd31-55fb26f67bba.mp3"},"yoast_head":"\nAl Futtaim closes Cenomi Retail stake acquisition - 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