Budget Saudi’s subsidiary seals acquisition deal in UAE

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The deal was valued at $3.55mln

Staff Writer, Mubasher

April 15, 2024

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Riyadh – United International Transportation Company (Budget Saudi) announced that one of its subsidiaries has signed an agreement to acquire 70% of the stake of Overseas Development company in a subsidiary based in the UAE.

The deal was valued at AED 13.34 million, according to a bourse filing.

It is worth noting that Budget Saudi posted SAR 277.21 million in net profits in 2023, up 10% higher than SAR 252 million in 2022.

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