Riyadh – Mubasher: National Industrialization Company (Tasnee) announced the completion of the sale of its full shareholding in Al Ruwad Industrial Transformation Company to Saudi Manufacturing Industries Holding Company (Tahweel Holding).
The transaction closed on 31 August 2026, following the fulfillment of all closing conditions and mandatory regulatory approvals, including a non-objection from the General Authority for Competition previously disclosed on 14 July.
The final cash consideration for the deal reached SAR 683.98 million. While the initial enterprise value was set at SAR 700 million, the final figure was determined after applying price adjustment mechanisms at the time of closing.
Ownership of the target entity has been fully transferred to Tahweel Holding.
Management stated that the divestment aligns with a strategic focus on the petrochemicals sector and will strengthen the financial position of Tasnee through improved capital allocation and debt reduction.
The company expects the move to simplify its organizational structure and enhance overall operational efficiency.
In the first half (H1) of 2026, Tasnee reported net losses totaling SAR 889.10 million, compared to a net profit of SAR 830 million a year earlier.
