Qassim Cement Company has signed a share sale and purchase agreement to acquire 100% of A-Mix Company, a Saudi closed joint-stock company engaged in the production and sale of ready-mix concrete, for SAR65 million ($17.3 million).

The agreement was signed on September 8, 2026, with the sellers being individual shareholders who collectively own the entire share capital of A-Mix, said a Saudi Exchange filing.

Under the terms of the agreement, Qassim Cement will pay the SAR65 million consideration to the sellers in three instalments, subject to the conditions and procedures stipulated in the agreement.

The transaction remains subject to a number of conditions before completion, including obtaining the required regulatory approvals and permits and meeting applicable regulatory requirements. These include securing a no-objection from the General Authority for Competition (GAC), as well as completing the contractual procedures agreed between the parties.

Qassim Cement said the signing of the agreement does not result in an immediate transfer of ownership. The transfer of all A-Mix shares will take place only after the required conditions for completion have been fulfilled.

The acquisition will be financed through existing Sharia-compliant credit facilities from commercial banks, according to the company.

A-Mix's principal business is the production, manufacture, marketing and sale of ready-mix concrete, giving Qassim Cement an entry or expanded presence in the ready-mix concrete segment alongside its core cement operations.

The transaction is expected to be completed after all necessary approvals and conditions have been satisfied, the filing said.