SAL Logistics Services, has announced the signing of a sale and purchase conditional agreement with Aviapartner Belgium NV and Aviapartner Holding NV to acquire 100% of their shares in Aviapartner Liège SA.
As per the terms of agreement, the transaction consideration payable on completion shall be all cash, based on an Enterprise Value of EUR 28.0 Million (approx. SAR 123 Mn).
The transaction is subject to customary closing conditions and regulatory approvals from the relevant competent authorities, as applicable.
Omar Hariri, CEO of SAL Logistics Services, said: “We are proud to sign this agreement as a strategic step in SAL’s international expansion journey and the development of operational platforms with added value beyond the Kingdom.
“This expansion builds on our operational capabilities and advanced expertise in cargo handling, enabling us to establish an operational presence in one of Europe’s leading air cargo hubs and expand the reach of our services internationally.
“This step will further strengthen our integrated operating model and open broader opportunities for collaboration with our airline partners and customers by connecting them to global trade corridors more efficiently.
“It also reflects SAL’s ambition to build a national logistics ecosystem with a global footprint, contributing to connecting the Kingdom with international supply chains and supporting the objectives of the National Transport and Logistics Strategy and Saudi Vision 2030.”
Upon completion, the acquisition is expected to enhance SAL’s operational capabilities and overall performance, with a positive financial impact anticipated. The financial results of Aviapartner Liège SA will be consolidated into SAL’s statements, supporting sustainable growth and reinforcing efficiency.
This move aligns with SAL’s disciplined expansion approach and its ambition to develop a global operating platform that strengthens its cargo and logistics capabilities.
Through this strategy, SAL continues to diversify revenue, enhance operational integration, and solidify its position as a national logistics champion with an expanding international footprint in line with the National Transport and Logistics Strategy and Saudi Vision 2030.