Riyadh — Mubasher: The board of Saudi Arabian Refineries Company(SARCO) has approved the commencement of negotiations with a strategic investor to acquire an additional 36.50% stake in an operational company within the industrial services sector.
SARCO currently holds a 27% interest in the target entity. The company stated that the negotiations are in their preliminary stages, and while non-binding drafts have been exchanged between the parties, no final or binding agreements have been signed to date.
The listed group emphasized that there is no certainty that the transaction will be completed or that a final agreement will be reached.
Due to the preliminary nature of the discussions, the company confirmed there is currently no financial impact on its financial statements.
SARCO committed to disclosing any material developments regarding the potential acquisition in accordance with the transparency and disclosure rules of the Capital Market Authority (CMA) and Saudi Tadawul.
In the first half (H1) of 2026, the listed company reported a net loss of SAR 4.98 million, a significant 79.01% reduction from SAR 23.72 million in H1-25.
