Tasnee Completes SAR 700M Sale of Al Rowad Stake

Tasnee has completed the sale of its entire 100% equity stake in Al Rowad Industrial Transformation Company to Tahweel Holding, in an all-cash transaction that closed on 31 August 2026. The deal carried an enterprise value of SAR 700,000,000, with a final total cash consideration of about SAR 683,979,000 after closing adjustments — roughly USD 182–183 million.

The divestment covers all of Al Rowad's shares and its downstream plastics conversion activities, including BOPP films, agricultural films, HDPE pipes, geomembranes, pallets, and other industrial plastic products. With the sale, Tasnee fully exits the plastics conversion business.

Tasnee had signed the Share Purchase Agreement in March 2026 at the agreed value of SAR 700,000,000. Completion followed the satisfaction of the required conditions, including a no-objection letter from the General Authority for Competition regarding the economic concentration, and the transfer of full ownership of Al Rowad to Tahweel Holding alongside the necessary regulatory approvals.

Why it matters

The move reshapes Tasnee's industrial portfolio, redirecting capital toward strengthening its financial position and reducing leverage. As of September 2026, the company says the transaction simplifies its organizational structure and sharpens its strategic focus on the petrochemicals sector.

For residents and businesses following the Kingdom's industrial landscape, the deal reflects a broader trend of Saudi companies streamlining operations around core sectors. The transaction was handled through Saudi Exchange issuer disclosures, regulatory filings, and the competition-authority process, rather than any retail e-government channel.

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