Kingdom Holding Company (KHC) announces that it will sell its entire shareholding in Saudi Research & Marking Group (SRMG) in a private off-market transaction. The number of shares sold is 23,923,296 which is 29.9% of the total shareholding of SRMG. The sale price will be SAR35.00/share and the total consideration will be SAR 837,315,360. The transaction will be completed during the trading day today, 19 Muharram 1427H. corresponding to 1 November 2015.
The proceeds from the transaction will be redeployed for other corporate projects and investment opportunities which are in line with KHCs strategic objectives. The sale will be recorded in the fourth quarter results of 2015.