Dur Hospitality Company (SASE:4010) entered into an agreement to acquire 60% stake in Nozol Shada Hotel for SAR 61.2 million on January 22, 2019. The transaction will be financed through internal resources, along with the credit facilities provide by a local bank to Dur Hospitality. The transaction is expected to have a positive financial impact starting from second quarter of 2019. BMG Financial Group acted as financial advisor to Shada Homes. KPMG Al Fozan & Al acted as accountant to Dur Hospitality.
Dur Hospitality Company (SASE:4010) completed the acquisition of 60% stake in Nozol Shada Hotel on May 21, 2019.