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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The Emirati conglomerate has decided to aid the faltering Saudi firm, in what looks like one of the biggest retail alliances the two economies have seen in a long time.
قصص آنية ومفصلة ومكتوبة بعناية من المنطقة
Timely, detailed and well-written stories from the region
For the Gulf region, this has to be one of the biggest deals in the retail sector in recent memory. And a cross-border one at that.
About 10 days ago, Al-Futtaim, one of the most prominent business groups in the Emirates, said it is acquiring a 49.95% stake in Saudi Arabian conglomerate Cenomi Retail. In a transaction worth over 2.5 billion Saudi Arabian riyals, or about $666 million. What is more, as a condition of this agreement, Al-Futtaim will be extending a shareholder loan of at least 1.3 billion riyals (around $347 million) to support Cenomi’s finances and help fuel …
آراء حول أحدث التطورات في الأعمال والاقتصاد من محرر الشرق الأوسط
Views on the latest happenings in business and economy from our ME Editor
