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For the Gulf region, this has to be one of the biggest deals in the retail sector in recent memory. And a cross-border one at that.

About 10 days ago, Al-Futtaim, one of the most prominent business groups in the Emirates, said it is acquiring a 49.95% stake in Saudi Arabian conglomerate Cenomi Retail. In a transaction worth over 2.5 billion Saudi Arabian riyals, or about $666 million. What is more, as a condition of this agreement, Al-Futtaim will be extending a shareholder loan of at least 1.3 billion riyals (around $347 million) to support Cenomi’s finances and help fuel …

38:T43e,

For the Gulf region, this has

Al-Futtaim, Cenomi Retail and understanding their landmark deal

قراءات طويلة

Longreads

تقرير الخليج

The Gulf Report