Middle East / Africa
Saudi Tadawul Group Unit Takes Full Ownership of DirectFN
• Saudi Tadawul Group’s unit, Tadawul Advanced Solutions, has completed the purchase of the remaining 49% stake in Direct Financial Network Co., or DirectFN, from National Two Ventures for 220.5 million Saudi riyals.
• The purchase follows the satisfaction of all regulatory requirements on Sunday, as stated in a Monday filing.
• The acquisition is expected to boost the company’s liquidity and enhance its competitive position in the market.
• The acquisition is expected to boost the company’s liquidity and competitive position in the market.
