| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement made by Fawaz Abdulaziz Alhokair Company (Cenomi Retail) (the “Company”) on 25/01/1447H (corresponding to 20/07/2025G), with regards to the notification it received from a number of its substantial shareholders, namely: Fawaz Abdulaziz Alhokair, Abdul Majeed Abdulaziz Alhokair, Salman Abdulaziz Alhokair, Saudi FAS Holding Company and FAS Real Estate Company (the “Selling Shareholders”), regarding the signing of a share purchase agreement with Al-Futtaim Retail Company for the sale of a part of their stake in the Company amounting to fifty-seven million, three hundred twenty-five thousand, eight hundred forty-one (57,325,841) shares, which represents (49.95%) of the share capital of the Company to Al-Futtaim Retail Company (“Al-Futtaim”) (the “Private Transaction”), the Company announces that it has been notified by Al-Futtaim of the completion of the Private Transaction on 23/03/1447H (corresponding to 15/09/2025G). |
Completion of the Private Transaction has occurred following the satisfaction of multiple conditions precedent, which included the receipt of all necessary approvals and non-objections required from the relevant entities. As a result of the Private Transaction, Al-Futtaim’s stake in the entire share capital of the Company is (49.95%).
The Private Transaction was executed as a negotiated deal transaction between the parties of the Private Transaction, the Selling Shareholders and Al-Futtaim. The purchase price represented a sum of two billion, five hundred twenty-two million, three hundred thirty-seven thousand, four Saudi Riyals (SAR 2,522,337,004), at a sale price of forty-four Saudi Riyals (SAR 44) per share.
This Private Transaction aligns with Al-Futtaim’s strategy to further develop the consumer discretionary distribution and retail sector in the Kingdom. As a result of the Private Transaction, Al-Futtaim envisions the following:
First: Impact of the Private Transaction on the Company’s Activities
Strengthen the Company’s activities by enhancing operational processes, accelerating digital transformation, expanding the distribution network, and supporting innovation enablers, thereby reinforcing its position in the retail sector.
Second: Impact of the Private Transaction on the Company’s Shareholders
Benefit the Company’s shareholders through improved competitiveness and long-term growth opportunities.
Third: Impact of the Private Transaction on the Company’s Employees
Support the Company's employees by creating new career and professional development opportunities, supported by Al-Futtaim’s extensive expertise in managing global retail chains.
Al-Futtaim’s investment in the Company underscores the group’s strong confidence in Saudi Arabia’s economy and its alignment with the Kingdom’s long-term Vision 2030. This substantial foreign direct investment from the United Arab Emirates private sector highlights the robust economic partnership between the UAE and Saudi Arabia. By strengthening its presence and expanding its brand portfolio in this strategic market, Al-Futtaim is well-positioned to capitalize on growth opportunities and contribute to the dynamic Saudi retail landscape.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.