Arabian Cement Sub Sells, Buys Jordan Cement Shares in Swap

Arabian Cement Bahrain Holding Company will sell 7.3 million shares of Ready Mix Concrete and Construction Supplies Company to Al Hejaz Company for Cement at JOD 1.3 each, for a total of JOD 9.5 million, the parent company said in a filing. That works out to about SAR 50.3 million.

Separately, the Bahrain unit will buy 6.25 million shares of Qatrana Cement Company from Ready Mix at JOD 1 each, overall JOD 6.2 million, the filing said. The remaining 1.85 million Ready Mix shares will be swapped with Al Rawsha Company for Trading and Investment for 2.27 million Qatrana shares. The transactions consolidate ownership within the group.