A subsidiary of “Mahara” completes the first phase of acquisition of 20% of “Seas Trading”

Riyadh – Mubasher: Maharah Human Resources Company announcedSkills“In the last five days, corresponding to December 29, 2022, the Growth Path Investment Company has completed the first phase of the process of acquiring a stake in the Smooth Trading and Marketing Company, which represents 20% of the shares owned by the company, increasing the capital of the company and issuing new shares for the growth path of the company’s investment.

The company said the acquisition fee of the company has been paid, the ownership stakes have been transferred to Path of Growth Investment Company, and the articles of association of the company has been modified at the Ministry of Commerce.

The company has indicated that Path of Growth Investment Company and the owners of Silas Trading and Marketing Company – owner and operator of the Sorour application – have signed a purchase and sale agreement for the acquisition of 40% of the shares owned by the company from of Path of Growth Investment Company.

In October 2022, the investment company Corso Crescita obtained the authorization from the General Authority for Competition and the Market to finalize the acquisition of 40% of the shares owned by the company. An agreement was signed on the closing date with the owners of the company for the implementation of the acquisition in two phases, as it occurred on the Closing date of the acquisition of the shares of the first phase, which represent 20% of the property rights of the company, with the concession to the Path of Growth Investment Company of the option to purchase the shares of the second phase, equal to 20% of the shareholding in the company, within six months from the closing date, provided that the company achieves the economic and operational objectives agreed between the parties.

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