L-Alam Information Security Company announced yesterday that it has signed a share purchase agreement to acquire all shares of the Saudi electronic information exchange “Exchange” from the public investment fund, as the completion of the agreement is subject to the condition of obtaining all regulatory approvals.
Upon completion of the transaction, Tabadul will become wholly owned by Elm Company, which will retain its trademark and identity. The company’s current executive management will continue to manage its operations and submit reports to its Board of Directors.
This agreement could lead to cooperation, growth opportunities, and acceleration of the two companies’ overall strategic goals. Elm and Exchange have the opportunity to take advantage of the combined strengths between them, as well as create an integrated entity that enhances competitiveness and expertise throughout the entire network of logistics services in the country.
Regarding the role of the fund, a spokesman for the Public Investment Fund said: “As an active investor; The Public Investment Fund is committed to increasing their investment by expanding the participation and opportunities of their portfolio companies, with the goal of pioneering national companies that contribute to creating a positive economic impact. Therefore, this agreement will yield results by integrating the value chain of logistics services and establishing an integrated technical strategic system. ”
“This agreement is very important for the company and will enable us to continue the growth of our products and digital solutions that specialize in the transportation and financial sectors. Abdul Rahman Al Jadi explained. Meets all the needs of the logistics sector.