The transaction was completed on 31 August 2026. The enterprise value of the Target Company is SAR 700 million subject to customary adjustments under the Agreement. Tasnee is a Saudi publicly listed company (TADAWUL: 2060) and a leading player in the Kingdom’s industrial and petrochemical sectors. 

The Target Company, the plastics business unit of Tasnee, is one of the leading groups in the plastic conversion industry in Saudi Arabia. It comprises a portfolio of specialized operating companies serving the packaging, agriculture, infrastructure, and industrial sectors, including the manufacture of flexible packaging films, agricultural films and pipes, plastic sheets, industrial films, and advanced plastic recycling solutions, supported by a nationwide retail and distribution network. 

Tahweel is an industrial investment and operational company that contributes to Saudi Arabia’s economic diversification and industrial development objectives. This transaction marks a significant milestone in the continued evolution of Saudi Arabia’s industrial landscape and reflects the strategic realignment of Tasnee’s portfolio, while reinforcing Tahweel's commitment to advancing the Kingdom's conversion industries sector. 

King & Spalding advised Tasnee throughout the transaction, providing comprehensive legal support on structuring, due diligence, and definitive transaction documentation. The matter was led by Martin Hunt (Riyadh) and Saud Aldawsari (Riyadh), with support from Nabil A. Issa (Dubai), Alexander Barker (Dubai), Haya Alshammari (Riyadh), Ameen Kutbi (Riyadh), and Abdulrahman Albilal (Riyadh). 

Congratulations to our client and all parties involved on the successful completion of this landmark transaction. We are proud to support strategic investments that contribute to Saudi Arabia's economic diversification and industrial growth. 

For more information, please refer to the following press releases: 

• Tasnee Announcement
• Saudi Exchange Announcement