Al-Tayyar takes full control of Almothmera

21/07/2014 Argaam

Al-Tayyar Travel Group took full control of Almothmera Investment Company by buying a remaining 25 percent stake in the company for SAR 208.3 million.

The group’s subsidiary Al-Tayyar Holidays Travel Group signed the buyout contract today, according to a Tadawul filing.

The deal is financed from internal resources and a positive impact expected in the first quarter of 2015.

Almothmera specializes in real estate development, owns hotels and towers in Mecca, and was 75 percent owned by Al-Tayyar since 2013.

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