SASCO Delays Recognition of SAR 8.2M Expropriation Loss

SASCO

SASCO

4050.SA

0.00

On June 29, 2026, Saudi Automotive Services Company (SASCO) announced updates regarding compensation for the expropriation of a station owned by its subsidiary Naft Company in Jeddah for the Jeddah Historical Project. SASCO previously received SAR 13,024,465 in compensation as announced on April 27, 2026, but expects a financial loss of SAR 8.2 million in Q2 2026 representing the station's share of goodwill from the acquisition. The company stated that since the expropriation and ownership transfer are not yet completed, the financial impact will be recognized once legal procedures are finalized.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=96480&anCat=1&cs=4050&locale=ar

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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