Al-Futtaim to Acquire 49.95% Stake in Cenomi Retail
- brg_news_room
- Jul 23
- 1 min read
Saudi Arabia: Al-Futtaim, a private business group based in the United Arab Emirates, has agreed to acquire a 49.95 per cent stake in Saudi Arabian franchiser Cenomi Retail. The transaction is valued at over SAR 2.5 billion (approximately USD 667 million), according to a statement issued by Cenomi Retail. The shares are purchased at a price of SAR 44 each as part of a share purchase agreement signed by Cenomi Retail’s founding shareholders and Al-Futtaim.
In connection with the agreement, both parties are in discussions regarding a shareholder loan of at least SAR 1.3 billion (approximately USD 347 million), intended to strengthen Cenomi Retail’s balance sheet. Cenomi Retail operates a network of food and retail outlets across Saudi Arabia, while Al-Futtaim's business interests span sectors including retail, real estate, and financial services.
Source: Zawya
