United Wire Factories to Buy 40% Stake in Al Raeda Industrial

03:42 AM EST, 01/01/2026 (MT Newswires) -- United Wire Factories (SASE:1301), d/b/a Aslak, signed a deal to acquire a 40% stake in Al Raeda Industrial Investment Co, according to a Thursday filing. As consideration for the ownership interests in the target company, the Saudi Arabia-based wire products manufacturer will issue new shares worth 92.8 million Saudi riyals to the selling shareholders. The deal remains subject to regulatory approvals and customary closing conditions.