Riyadh – Mubasher: Elm Company announced the completion of the regulatory procedures related to its acquisition of the Public Investment Fund's (PIF) entire stake in Thiqa Business Services Company, after fulfilling all the preconditions stipulated in the share sale and purchase agreement signed between the two parties on January 21, 2025 .

In a statement to Tadawul on Monday, Elm clarified that the acquisition was completed in accordance with the announcement, with the company paying the agreed-upon amount using its own resources and financial facilities.

The company noted that the Public Investment Fund is a major shareholder in Elm, and that Raed Ismail and Abdullah Al Salem, members of the board of directors, have an indirect interest in this transaction, with the necessary approval obtained from the Ordinary General Assembly on March 17, 2025 .

The company confirmed that the financial impact of the deal will begin to appear in its financial statements starting in the second quarter of 2025.