Miahona signs SAR 95M deal to acquire SHAS Water

Miahona Co. said it signed on June 4 a sale and purchase agreement (SPA) to acquire 100% of SHAS Water Co. including its stakes in subsidiaries, according to a statement to Tadawul.

The transaction is currently valued at SAR 95.01 million, possibly increasing to a maximum of SAR 102.71 million, subject to SHAS Water meeting specific financial targets based on the audited annual financial statements for 2025.

The transaction will be financed through its internal resources and available financing facilities, and completion is subject to obtaining the relevant regulatory approvals, including approval from the General Authority for Competition and any other statutory approvals.

Miahona indicated that the seller is Al Manhal Water Factory Co. Ltd., a subsidiary of Nestlé Waters.

The deal included no related parties, the statement added.