Riyadh – Mubasher: Mohammed Hadi Al Rasheed & Partners Company signed a share purchase agreement on 9 July 2026 to acquire a 50% stake in Taif Logistics, according to a bourse filing.

The transaction is valued at SAR 92.50 million and involves the purchase of shares from individual sellers Jana Murhaf Ali Bu Khamsin and Mohammed Sidqi Ahmed Abu Khamsin.

The acquisition will be funded through the company’s internal resources and available financing facilities. Taif Logistics, established in 2018 and based in Al Khobar, specializes in services related to oil and gas extraction, including the transport and mixing of silica sand and chemicals.

The target company reported revenues of SAR 91.09 million in 2023, SAR 161.69 million in 2024, and SAR 116.50 million in 2025.

Al Rasheed stated the move aligns with its strategy to integrate the value chain of its industrial silica sand mining and processing business. The deal is expected to create operational synergies and expand marketing channels for silica products.

Completion remains subject to regulatory approvals, including the General Authority for Competition, and the fulfillment of agreed-upon conditions. No related parties were identified in the transaction.

In May, the company announced a procedural step in its planned transition to the Main Market of the Saudi Exchange (Tadawul) from the Parallel Market (Nomu).