“Tayba Investment” begins the voluntary liquidation of its subsidiary, “Nozol Shada Hotel”

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Taiba Investment Company has begun voluntary liquidation procedures for Nazul Shada Hotel Company, in which Dur Hospitality Company, wholly owned by Taiba Investment Company, owns a 60% share of its capital amounting to $10.67 million (40 million riyals).

The company stated in a statement on Saudi Tadawul, today, Thursday, that this comes within the framework of the periodic review of the company’s investment portfolio in line with its strategic directions.

The company does not expect the liquidation to have a material financial impact on the consolidated financial statements of Taiba Investment Company, and any impact - if any - will be reflected in them when the liquidation procedures are completed.