ADES Acquires Saudi Arabian Saipem for USD 285M

ADES

ADES

2382.SA

0.00

On June 24, 2026, ADES Holding Company announced that its subsidiary ADES Saudi Limited Company signed a sale and purchase agreement to acquire all shares of Saudi Arabian Saipem Limited for USD 285 million. The acquisition includes five premium jackup rigs: three owned rigs (Perro Negro 7, 8, and 10) and two leased rigs (Perro Negro 11 and 13), with four currently operating in Saudi Arabia and one in Mexico. The transaction will be funded through existing liquidity sources and available financing commitments, adding approximately SAR 3.8 billion (USD 1 billion) to ADES' backlog. The deal is expected to close in Q3 2026, subject to regulatory approvals and customary closing conditions.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=96320&anCat=1&cs=2382&locale=ar

Attached PDF document link:

https://www.saudiexchange.sa/Resources/fsPdf/26594_4926_2026-06-24_03-21-48_en.pdf

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.

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