Riyadh - Mubasher: National Industrialization Company (Tasnee) signed a share purchase agreement with Saudi Holding Company for Conversion Industries (Tahweel Holding).
Through this contract, Tasnee will sell its unit Al Rowad Industrial Transformation Company for an enterprise value of SAR 700 million, according to a bourse filing.
Subject to regulatory approvals, the proceeds from the sale will be used to reduce leverage, redirect capital, and enhance return on capital employed, while simplifying the company’s organizational structure.
The group comprises five specialized subsidiaries operating across packaging, agriculture, infrastructure, and industrial sectors: Al‑Rowad Global Packaging, Taldeen Plastic Solutions, Al‑Rowad National Plastic, Al‑Rowad International Industrial Films, and Al‑Rowad United Marketing.
In line with Tasnee’s vision, the process is expected to optimize its business portfolio, strengthen its financial position, and focus on the petrochemicals sector.
Tasnee appointed Trussbridge as its financial advisor and Kings & Spalding as legal advisor, while Tahweel Holding retained Deloitte and Dentons for the respective advisory roles.
