Saudi Cable Co. Announces Sale of residential villa in Turkey for an amount of 40.9 million Saudi Riyals
- Date: 19-Jul-2022
- Source: Mubasher
- Sector:Real Estate
- Country:Saudi Arabia
Saudi Cable Co. Announces Sale of residential villa in Turkey for an amount of 40.9 million Saudi Riyals
|Element List||Explanation|
|Transaction Details||Gozo Gayrimenkul Anonim Sirketi, a fully owned subsidiary of Saudi Cable Company entered into an agreement on March 14, 2022 to sell real estate in the form of residential villa.|
|Transaction Value||40.9 Million Saudi Riyal|
|Transaction Terms||Not applicable|
|Parties of the Transaction||Gozo Gayrimenkul Anonim Sirketi & A non-related party|
|Transaction Funding Method||Not applicable|
|Transaction Execution Date||2022-03-14 Corresponding to 1443-08-11|
|Description of the Business of the Asset forming the Subject Matter of the Transaction||Residential villa|
|Asset Book Value||35.4 million Saudi Riyals|
|Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction||Not applicable|
|Transaction reasons||To generate liquidity from assets of the group that are not directly linked to core operations|
|Expected Impact of the Transaction on the Company and Its Operations||Generated a gain of 5.5 million Saudi Riyals|
|Details of Using The Proceeds of the Asset Sale||Proceeds are primarily to be directed towards enhancing operational working capital|
|Related Parties||Not available|
|Additional Information||Not available|