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Nomu-listed Lana Medical has fully acquired Saham Environmental Services in a SAR 5 mn transaction, it said in a Tadawul regulatory filing yesterday. The medical devices manufacturer doesn’t plan to line up bank finance for the transaction. The move is part of the company’s push to diversify its environmental services portfolio.
In context: The takeover comes a few days after the company’s shareholders approved a decision to establish an SAR 10 mn investment arm, dubbed Lana Investment.
About Saham:The company has been in the local waste management sector for 18 years now, providing commercial and construction waste disposal services.
Not the first environmental venture: Lana established a medical waste treatment plant in Jeddah in October 2023 with a daily capacity of 36 tons, in addition to the plan in Riyadh which was established in 2016 to serve the Central Region.
WATCH THIS SPACE- Lana has two more treatment facilities currently under construction in Asir and Hail with operations expected to start this year.
Remember: Lana took 720k shares (20% stake) to market last month on Tadawul’s parallel market Nomu, after pricing its IPO at SAR 31 a piece.
Market reax:The share price of Lana declined 2.4% to SAR 35 at yesterday’s close.
IN OTHER M&A NEWS-
Jedaya Agriculture has fully acquired a poultry farm in Riyadh at a cost of SAR 10.8 mn to breed broiler chickens, parent company Mayar Holding said in a Tadawul filing.
The pitch: Expanding into the poultry sector is part of Mayar’s strategic plan to diversify its operations and boost revenues, ultimately complementing the Nomu-listed company’s offering portfolio of agricultural and food products.
The details: The purchase includes farmland, breeding barns, existing operating equipment, poultry farming supplies, and licenses.
Jedaya will finance the project from its own resources where SAR 700k will be paid upon receiving the deed to the land, while the remaining SAR 10.1 mn will be paid upon completion of all the legal procedures.
