National Gas & Industerialization Co. (SASE:2080) signing an agreement to acquire 55% stake in Best Gas Carrier Co. from Mohammed bin Manahi bin Muneer Albuqami for SAR 28.1 million on February 15, 2022.

The transaction value will be funded from GASCO's resources and cash flows. Best Gas Carrier reported revenue as SAR 39.9 million and net income of SAR 5.5 million for te period end end on 2021.The completion of this transaction is subject to obtaining the approval of the General Authority for Competition and any other regulatory approvals. GASCO will announce the completion of the transaction or any other material developments in due course.

The transaction has been approved by the board of directors of National Gas & Industerialization,