Tasnee gets regulatory nod for SAR 700m subsidiary sale

National Industrialization Company (Tasnee) received a no-objection certificate from the General Authority for Competition for the sale of its entire stake in Al Rowad National Plastic Manufacturing Company.

The regulatory approval clears a primary condition for the SAR 700 million transaction first disclosed on 2 March 2026, according to a bourse filing. The deal transfers 100% of the target entity's capital to Saudi Manufacturing Industries Holding Company.

Tasnee said the parties are working toward the remaining closing conditions. The company will disclose further material developments as required by regulations.