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Saudi Riyadh Cables acquired a share in the plant in Uzbekistan


Saudi Arabia’s Riyadh Cables Group company has signed an agreement to purchase a 51% stake in Uzbekistan’s Artikul Asia Cable enterprise for 147.7 million Saudi riyals (approximately 39 million US dollars). The acquisition was carried out on October 27 through the company’s subsidiary Riyadh Cables Co.

This transaction must be approved by Uzbekistan’s Committee for the Development of Competition and Protection of Consumer Rights as well as the banks financing Artikul Asia Cable.

Additionally, the acquisition will be financed by Riyadh Cables company’s own funds and existing financial resources.
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News » Economy » Saudi Riyadh Cables acquired a share in the plant in Uzbekistan

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