4 billion riyals made by 3 Saudi companies following the acquisition of "Ober" on "Karim"

Three publicly traded companies in Saudi Arabia following the acquisition of Karim by Ober reached about 4 billion riyals.
Ober has announced the acquisition of his rival Karim for $ 3.1 billion (about 11.6 billion riyals), including $ 1.4 billion in cash and $ 1.7 billion to repay through bonds convertible.
Three Saudi companies holding shares in Karim announced today the value they would derive from the acquisition of more than $ 1.8 billion (about 4.05 billion riyals) in the form of Cash and bonds in Ober for some companies.
In a statement published about Tadawul, Tadawul said he held a direct 8.8% stake in Karim, which invested $ 100 million (about 375 million riyals) in January 2017. The acquisition will represent a cash portion of $ 274 million (approximately R $ 1.02 billion), as well as a portion to be repaid using convertible bonds in Uber, with a final split at the end of the transaction.
Its investment in Karim was realized through its own investment funds: the Saudi Telecom Fund, which holds 6.4% of the capital, and the ST Ventures fund, which holds 2.9% of the capital. Kingdom Holding Company announced that its 7% stake in Karim had been sold to Ober under a $ 333 million contract (about 1.25 billion riyals), which would bring in $ 150 million ( about 565 million riyals). Convertible Bonds at Ober for $ 182 million (about 685 million RS).
The company said in a statement released yesterday on the Tadawul website that the book value of this asset was $ 203 million (about 765 million riyals), a financial gain of $ 129 million (about $ 485 million). riyals), which will appear in the first quarter of 2019. Proceeds from the sale will be used in future investments of the Company.
For its part, Al Tayyar Travel Group has announced its successful exit from its investment in Karim, where its 14.7% stake was worth more than $ 474 million (approximately R $ 1.78 billion) as part of the acquisition. Historic Karim by Ober. "He said.
According to the terms of the agreement, the group will record a minimum of 357 million riyals (about 1.34 billion riyals) in 2019 of the total expected earnings and the rest will be added after all the conditions of the agreement. agreement have been respected. Later.
Abdullah Bin Nasser Al Daoud, chairman and CEO of Al Tayyar Travel Group, said the group's first investment in Karim had taken place in December 2014, for an estimated value of 16.8 million riyals.
"We have not yet determined who will get the money or the bonds, but the options will be available later after the IPO," he said, expecting the IPO take place in the first half of 2019 or at the beginning of the second semester.
He added that the transaction was based on our belief in Ober, its future and its high competitiveness. He highlighted the size of the data, research and technology centers owned by Ober, and compared the acquisition contract to the "ideal contract" that will improve the quality of service of Saudi citizens. Higher level.
"There was a long list of potential investors from Europe, the United States and Japan, but in the end, the Ober offer was a global offer. have opted for the best solution and the best solution, "said Daoud, Uber" to take advantage of the competitive advantage and with the administrative and management team in Saudi Arabia and will form a very wonderful "Formla" and will provide excellent services.