SABB: Completion of sale, purchase of business from HSBC Arabia to Alawwal Investment for SR1.2 bln

The Saudi British Bank (SABB) announced on Sunday the completion of the transaction on 15/09/2022. The value of the transaction is SR1,203.21 million and is subject to post-completion adjustments in accordance with the agreement between the Buyer and the Seller.
This comes in reference to the announcement made by the Saudi British Bank (“SABB”) on the Saudi Stock Exchange (Tadawul) dated 18/5/2021 relating to the sale and purchase of certain lines of business from HSBC Saudi Arabia (as Seller) to Alawwal Invest Company (as Buyer.