18 Dhu al-Qi'dah 1445 - 26 May 2024
    
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Eye of Riyadh
Business & Money | Monday 22 April, 2024 9:35 am |
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PIF inks deal to acquire stake in stc’s TAWAL for SAR 8.7B

stc Group signed, on April 21, a sale and purchase agreement (SPA) with the Public Investment Fund (PIF) to sell 51% of Telecommunication Towers Company Limited (TAWAL) for cash.

 

In a statement to Tadawul, the telecom operator said that the agreements were signed to transfer the ownerships of TAWAL, PIF-owned Golden Lattice Investment Co. (GLIC), which owns and operates 8,069 telecommunications towers in the Kingdom, Prince Saud bin Fahad bin Abdulaziz, and Sultan Holding Co. under a new entity.

 

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