Al Tayyar Acquires Additional Stake in Muthmera

06/04/2013 Argaam

The board of Al-tayyar Travel Group announced today the approval of acquiring additional stake in Muthmera Real Estate Co., the company said in a filing to Tadawul.

The company said the increase represents 39% of Muthmera assets at a total value of SR 341 million. Accordingly, Al-tayyar's equity in Muthmera  jumped to 75% (SR 641mn). This deal will reflect positively on the company's earnings over the coming years.

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