Saudi Automotive Services Company (SASE:4050) acquired a 80% stake in NAFT Services Limited Company for SAR 1.1 billion on January 25, 2022. The deal will be financed through Saudi Automotive's internal and bank resources. The acquisition is expected to be earnings accretive from the second quarter of 2022.

Saudi Automotive Services Company (SASE:4050) completed the acquisition of a 80% stake in NAFT Services Limited Company on January 25, 2022.