Budget Saudi Subsidiary Acquires 70% Stake in Overseas Development Company in the UAE

The United International Transportation Company (Budget Saudi) provided an update on Monday regarding its previous announcement that one of its subsidiaries has signed a Memorandum of Understanding to potentially acquire 70% of the shares of Overseas Development Holding Company’s subsidiaries in Saudi Arabia, the United Arab Emirates, and Kuwait.

The company detailed that the acquisition price was determined based on a financial evaluation, with the value of the acquired stake totaling 13,346,586 AED.