Jarir signs contract with Rubeen Al Arabia Company
Jarir Marketing [4190.SE] signed an agreement with Rubeen Al Arabia Company to provide management, operation and maintenance services (not including rental-related services) for the Rubeen Plaza commercial complex. The contract value is SAR500k, in addition to the staff costs, with a duration of one year (renewable), and is expected to reflect on the company’s financials starting 4Q19. Rubeen Al Arabia Company is 50% owned by the Jarir Commercial Development Company, which is indirectly owned by some members of Jarir’s BoD members. (Company disclosure)
Jarir Marketing Co: SAR160.00 as of 10 Dec 2019, Rating: Buy, TP: SAR198.00/share, MCap: USD5,120mn, JARIR AB/4190.SE
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