Mar 13 2012
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SBM announces the 100% acquisition of Zalal Readymix Concrete Factory in Riyadh from Jwan Group Holding with Wasatah Capital as financial advisor
During the signing ceremony, Mr. Jastiniah stated: "over the past 30 years, SBM has overcome a number of local and regional challenges in executing some of the largest projects in the region. Additionally, SBM is interested to acquire other readymix concrete factories across Saudi Arabia in the future."
Saudi Arabia has witnessed an increase in private sector and government projects to meet the growth in the concrete sector through local and foreign direct investment. The concrete sector is considered one of the most important local industries with an estimated market size of greater than SAR 2.5 billion.
Signing ceremony attendees (from left to right): Mr. Majduldeen Albasheer (Board Advisor - SBM); Engineer Ahmed Kouther (Executive Member - SBM); Mr. Ahmed Jastaniah (Chairman - SBM); Mr. Faisal Kaki (Board Member - SBM); Mr. Abdulaziz Al-Owaisi (Chairman - Jwan); Mr. Abdullah Alrasheed (CEO - Wasatah Capital ); Mr. Shivendra Singh (Head of Corporate Finance & Private Equity - Wasatah Capital ); and Mr. Leo Doyle (Manager Technical Operations - Jwan).
© Press Release 2012
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