Elm in initial talks to acquire PIF stake in Thiqah

Elm Co. is in preliminary talks with Thiqah Business Services Co. to buy Public Investment Fund’s (PIF) entire ownership in Thiqah, the Tadawul-listed firm said in a statement.

These talks do not imply that the acquisition deal will be concluded, it added.

An agreement between both parties will be subject to the approvals of competent authorities as well as Elm shareholders.

The proposed transaction includes a related party – the PIF is a major shareholder in both companies.

Elm will announce any material developments regarding the proposed transaction in due course, in accordance with the relevant rules and regulations.

Source : Argaam