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Arabian Cement restructures Jordan share swap via Bahrain unit
Arabian Cement revises its Bahrain unit's Jordan share swap, selling shares in Ready Mix Concrete and buying into Qatrana Cement. Deal impact due at closing.
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Arabian Cement Company has revised the share swap agreement for its Bahrain-based subsidiary, Arabian Cement Bahrain Holding Company, covering the unit's Jordanian investments.
Under the new terms, the subsidiary will sell 7.30 million shares in Ready Mix Concrete and Construction Supplies to Al Hijaz Cement for SAR 50.30 million, at 1.3 Jordanian Dinars per share. At the same time, the Bahraini unit will buy 6.24 million shares in Qatrana Cement from Ready Mix Concrete for SAR 33.10 million, priced at 1 Jordanian Dinar per share.