Saudi Press

Saudi Arabia and the world
Wednesday, Oct 08, 2025

PIF plans to acquire ‘significant’ stake in Saudi papermaker MEPCO     

PIF plans to acquire ‘significant’ stake in Saudi papermaker MEPCO     

Saudi Arabia’s Public Investment Fund eyes acquiring a “significant” minority stake in Middle East Paper Co. as the sovereign fund aims to broaden its investments in local businesses.
In a bourse filing, MEPCO said the sovereign wealth fund intends to subscribe to newly issued shares in the company for a price of SR31.50 ($8.40) per share, subject to approval from the Capital Market Authority and other regulatory bodies.

MEPCO shares were trading at SR34 per share on Tadawul as of 12 p.m. Saudi local time on Sunday.

Both companies agreed to execute a non-binding memorandum of understanding which will expire on July 31 or upon entering into a legally binding subscription agreement, whichever comes first, added the Tadawul filing.

It clarified that the implementation of the transaction is subject to both parties entering into a subscription agreement, adding that they will cooperate and negotiate to complete the agreement.

SNB Capital is the financial adviser for MEPCO, whereas the PIF has hired GIB Capital to advise on the deal.

The PIF is one of the largest sovereign wealth funds in the world driven by Saudi Arabia’s Vision 2030 initiative.

It has more than SR2 trillion worth of assets under management and aims to double that figure by 2025 and create 1.8 million jobs, said Yasir Al-Rumayyan, governor of the PIF, on the seventh anniversary of the launch of Saudi Vision 2030.

The acquisition is set to broaden PIF’s scope as it expands its portfolio by diversifying its investments into local non-oil sectors.

Its interest in MEPCO, which offers products for packaging in multiple sectors, comes when the papermaker recorded a 22.58 percent increase in net profits at SR270.73 million in 2022, compared to SR220.86 million in 2021.

Moreover, the company has completed 85 percent of its SR365.5 million Juthor paper production plant which is set to begin trial operation in this quarter.

The new plant will produce Jumbo tissue rolls for facial tissues, pocket tissues, napkins, toilet paper, kitchen towels, and C-fold tissues.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Wave of Complaints Against Apple Over iPhone 17 Pro’s Scratch Sensitivity
Syria Holds First Elections Since Fall of Assad
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
UK, Canada, and Australia Officially Recognise Palestine in Historic Shift
New Eye Drops Show Promise in Replacing Reading Glasses for Presbyopia
Dubai Property Boom Shows Strain as Flippers Get Buyer’s Remorse
Top AI Researchers Are Heading Back to China as U.S. Struggles to Keep Pace
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
UAE-US Stargate Project Poised to Make Abu Dhabi a Global AI Powerhouse
Trump and Starmer Clash Over UK Recognition of Palestinian State Amid State Visit
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Sam Altman sells the 'Wedding Estate' in Hawaii for 49 million dollars
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Did the Houthis disrupt the internet in the Middle East? Submarine cables cut in the Red Sea
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
×