Elm Shareholders Approve Acquisition of PIF’s Stake in Thiqah for SAR 3.4 Billion

Elm Company announced that its shareholders approved the acquisition of all shares held by the Public Investment Fund (PIF) in Thiqah Business Services Company during the Ordinary General Assembly meeting.

The approval includes licensing the indirect interest of Board members Raed Ismail and Abdullah Alsalem in the transactions and contracts between Elm and PIF. The acquisition, finalized through a Share Purchase Agreement on January 21, 2025, involves a cash payment of SAR 3.4 billion, with no preferential terms.

Elm stated that this acquisition aligns with its strategic growth plans and enhances its service offerings in the business solutions sector.