Aslak closes acquisition of A-1 Fence Arabia

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United Wire Factories Co. (Aslak) announced today, Oct. 3, completing the acquisition of a 30% stake in A-1 Fence Arabia Co. for SAR 281.4 million.

 

The acquired shares were transferred to Aslak as of Aug. 27, the company said in a Tadawul statement today.

 

In August 2022, Aslak signed an agreement with UAE's A-1 Fence DMCC Co. to acquire a 30% stake in A-1 Fence Arabia, according to data available on Argaam.

 

Aslak announced, in March 2023, that the General Authority for Competition had issued its no-objection to the economic concentration process related to the company's acquisition of a stake in A-1 Fence Arabia.

 

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