SASCO Acquire 80% of the Oil Services’ Company

Saudi Automotive Services Company (SASCO) acquired 80% of the capital of the Oil Services Company Ltd., with a value of SR1.1billion.

In a statement on Tadawul website, SASCO announced that the transaction was financed with self-resources and bank facilities, as well.

Oil Services Ltd. is a company established in 1987, specializing in the field of gas stations, car services, distribution of petroleum products and related services in the Kingdom of Saudi Arabia.

In addition, it owns and operates as many as 233 sites, spread throughout the Kingdom.

The deal comes within the framework of the expansion strategy of (SASCO) to acquire new locations, increase its market share, and enhance its reach and stations’ network.

Such a deal is expected to positively affect the revenues and profits of (SASCO) starting from the Q2, 2022.