RIYADH: Arabian Contracting Services Co. has entered into an agreement to acquire all shares of Faden Media for SR1 billion ($279 million).
The completion of the acquisition still requires the approval of relevant government authorities, as well as approval from the General Authority for Competition, according to a bourse filing.
The company, which is partly owned by the Middle East Broadcasting Company, is following a growth strategy which seeks to establish profitable alliances and partnerships locally and regionally
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