Investment17 Jun 2025, 07:31 pm
Garuda Construction Invests SAR 1,000,000 in Garuda Arabia, to Establish Wholly Owned Subsidiary
AI Summary
Garuda Construction and Engineering Ltd has approved an investment of SAR 1,000,000 in Garuda Arabia Limited (Limited Liability Company), Saudi Arabia, to make it a wholly owned subsidiary. The new subsidiary will provide construction services. The transaction does not involve any related parties and is expected to be completed at an arm's length basis.
Key Highlights
- Garuda Construction to invest SAR 1,000,000 in Garuda Arabia Limited
- Garuda Arabia Limited to become a wholly owned subsidiary of Garuda Construction
- New subsidiary to provide construction services
- Transaction is not a related party transaction
- Transaction to be completed at an arm's length basis