Anaam International to Divest 63% Stake in Wasit Saudi Entertainment and Beauty Systems Industry Co.

12:06 AM EDT, 04/13/2026 (MT Newswires) -- Anaam International Holding (SASE:4061) said Sunday it signed a deal to divest a 63% stake, corresponding to 1,071,000 shares, in Wasit Saudi Entertainment and Beauty Systems Industry Co. to Tariq Mohammed Al-Haidari. The food processing company will sell the stake for 38.2 million Saudi riyals, of which 25.2 million riyals will be paid as the first installment, 3.2 million riyals as a second installment after one year, and the remaining amount in three equal installments every six months. The proceeds from the sale will be used for partial repayment of outstanding loans, development of real estate, and working capital. The sale is part of the company's strategy to restructure its investment portfolio, enhance liquidity, minimize financial burdens, and short-term liabilities related to the unit.