Saudi National Industrialization Company (Tasnee) has completed the sale of 100% of the share capital of Al Rowad Industrial Transformation Company to Saudi Holding Company for Conversion Industries (Tahweel Holding), with the final transaction consideration set at SAR683.979 million ($182.4 million).

Tasnee said the transaction was completed on August 31, 2026, following the fulfilment of all conditions precedent, including receipt of the required regulatory approvals and the transfer of full ownership of Al Rowad Industrial Transformation Company to Tahweel Holding.

The enterprise value of the transaction was previously announced at SAR700 million ($186.7 million). However, following the application of the final cash consideration adjustment mechanism at closing, the final consideration was determined at SAR683.979 million, said a Saudi Exchange filing.

The latest development follows Tasnee’s July 14 announcement that the General Authority for Competition had issued a no-objection letter concerning the economic concentration associated with the sale.

Tasnee said the transaction supports its strategic focus on the petrochemicals sector and is expected to strengthen its financial position by redirecting capital allocation and reducing leverage.

The sale will also contribute to simplifying Tasnee’s organisational structure and enhancing overall operational efficiencies, the company said. -TradeArabia News Service