Arab News, Thursday, Sep 2, 2021 | Muharram 25, 1443
Saudi Batic extends deal to acquire 35.8% of Smart Cities Solutions
Saudi Arabia:
Saudi Batic Investment and
Logistics Co. has extended a sale and purchase agreement to acquire 35.8 percent
equity in Smart Cities Solutions for Communications and Information Technology
for one month until Sept. 30.
The listed company aims to purchase Smart Parking
Holding Co.’s stake in Smart City Solutions, according to a bourse filing on
Wednesday.
Batic announced last week its capital
restructuring by transferring its indirect ownership in Smart Cities Solutions
for Communications and Information Technology, through the acquisition of all
its shares owned by its subsidiary Arabian Company for Security and Safety
Solutions.