PRESS RELEASE : BAHRI on 31/10/2023
The National Shipping Company of Saudi Arabia (Bahri) has announced that Petredec Group Limited, in which Bahri holds a 30.03% equity stake, has acquired the shares of one of its partners on October 30, 2023. This acquisition resulted in Petredec Group Limited’s ownership in Bahri increasing to 40.08%. The acquisition was financed using Petredec Group Limited’s available cash.
As a result of this transaction, Bahri’s ownership structure has changed, with Petredec Group Limited now holding a larger stake of 40.08% instead of the previous 30.03%.
It’s important to note that Petredec Group Limited is a leading global company in the gas transportation sector. Bahri initially invested in Petredec Group Limited in 2005, and this investment has yielded impressive results over the years.
