ALBAWABA - Zain Saudi Arabia has received a request from the Public Investment Fund (PIF) to exercise its right to purchase the remaining 20% stake in the company from Latheeth Gold for 726 million Saudi riyals.
According to tower sale prices, the value of the stake at the time of the request was 605 million Saudi riyals, resulting in an expected positive financial impact of 121 million Saudi riyals.
Zain Saudi Arabia
The company disclosed this information on Sunday, October 22. The request will be discussed by the Zain Saudi Arabia board of directors in its upcoming meeting, within the thirty-day deadline specified for the request.
