A Tiba Investment Company signed a Memorandum of Understanding with Shuaa Capital Company for the full acquisition of the Maliktin Company for Centro Oasis Hotel in Riyadh and Centro Shaheen Hotel in Jeddah, in a deal worth 328 million riyals. P>
According to Arab Net, the company said in a statement that its new investment comes in the light of the company's strategic direction by focusing on investment and real estate development, and within its quest to take advantage of attractive real estate investments in various cities of the Kingdom, including the possession of real estate projects in the area of hospitality and maximize investment values Good. P>
She noted that the duration of the note is 60 days extended from the date of signing of any 1442-10-14 corresponding to 2021-05-26. P>
The parties agreed that the acquisition was 100% by good at each of the royal company of Centro Oasis in Riyadh and the owner of the Centro Shaheen Hotel in Jeddah - and operators by Rotana Hotel Management Limited - including all assets and commitments with cash equivalents of 328 million riyals , Including a good share of the tax and is paid by a good for SHIA Capital Saudi Arabia, according to the terms of the sale and purchase agreement, which will be signed later for this purpose. P>
A good said that the financing of the purchase will be achieved by obtaining a loan from one of the financing as well as the resources of the company. P>
The completion of the acquisition referred to for non-financial, legal, legal and operational groups is subject to the consent of relevant regular authorities. P>