BRIEF-Zain KSA Sells Stake In Golden Lattice Investment Company To PIF

ZAIN KSA

ZAIN KSA

7030.SA

0.00

Nov 21 (Reuters) - MOBILE TELECOMMUNICATION COMPANY SAUDI ARABIA (ZAIN KSA)7030.SE:

  • ZAIN KSA SELLS STAKES IN GOLDEN LATTICE INVESTMENT COMPANY (GLIC) AMOUNTING TO 20% OF CAPITAL OF GLIC, TO PUBLIC INVESTMENT FUND (PIF)

  • TRANSACTION VALUE SAR 726 MILLION

  • PROCEEDS TO BE USED FOR FUNDING INVESTMENT AND CORE BUSINESS

  • EXPECTS A NET PROFIT OF SAR 121 MILLION FROM THE TRANSACTION

Further company coverage: 7030.SE


((Reuters.Briefs@thomsonreuters.com;))

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