Saudi Lime Industries concludes SAR 164.6 million acquisition of Astra Mining

Saudi Lime Industries Company announced the acquisition of 100% of Astra Mining Limited Company, following the fulfilment of agreement conditions, including obtaining necessary approvals from relevant authorities. The transaction was financed through a combination of bank financing and the company’s own resources.

In a statement published on Monday on Tadawul, Saudi Lime Industries Company stated that the financial impact is expected to be realised in the second half of the fiscal year 2024.

The company initially announced the purchase on February 25, 2024, for a total value of SAR 35 million. Additionally, Saudi Lime Industries will settle Astra Mining’s local bank debts amounting to SAR 129.55 million, bringing the total transaction value to SAR 164.55 million.