Tihama Advertising and Public Relations Co. completed the acquisition of an additional stake in Integrated Production Company for Audio and Visual Media Production from Majal Al Soura for Communications and Information Technology Corporation and Integrated Production Corporation for Artistic Production
March 09, 2021
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Tihama Advertising and Public Relations Co. (SASE:4070) entered into memorandum of understanding to acquire an additional stake in Integrated Production Company for Audio and Visual Media Production from Majal Al Soura for Communications and Information Technology Corporation and Integrated Production Corporation for Artistic Production on January 13, 2021. Tihama Advertising and Public Relations Co entered into an agreement to acquire 35% stake in Integrated Production Company for Audio and Visual Media Production from Majal Al Soura for Communications and Information Technology Corporation and Integrated Production Corporation for Artistic Production for SAR 7.3 million on February 4, 2021. Post completion, Tihama Advertising stake in Integrated Production will increase to 70%. For year ended March 31, 2020, Integrated Production had revenue and total profit of SAR 21 million and SAR 2.1 million respectively. The proposed transaction is subject to approval of the relevant regulatory authorities. The expected completion date is February 16, 2021. As on March 3, 2021, the deal is expected to close on April 1, 2021.
Tihama Advertising and Public Relations Co. (SASE:4070) completed the acquisition of an additional stake in Integrated Production Company for Audio and Visual Media Production from Majal Al Soura for Communications and Information Technology Corporation and Integrated Production Corporation for Artistic Production on March 10, 2021.The company expects that the financial impact of the acquisition will appear starting from the next fiscal year ending on March 31, 2022.
Tihama Advertising and Public Relations and Marketing Holding SJSC (Tihama) is a Saudi Arabia-based company engaged in the provision of advertising, public relations, marketing, publishing, media services, communications, bookstores and video services. The Companyâs operations include media relations, which cover publishing of newspapers, articles and press conference, among others; Corporate Communications include newsletters, journals, brochures and annual reports; Conferences and seminars include strategic preparations, organizing exhibitions and events , and other activities, such as exhibition and event management, corporate relations and program coordination, among others. The Company operates through its headquarters in Jeddah, branches, and subsidiaries in Saudi Arabia and its offices and representatives in abroad.
Tihama Advertising and Public Relations Co. completed the acquisition of an additional stake in Integrated Production Company for Audio and Visual Media Production from Majal Al Soura for Communications and Information Technology Corporation and Integrated Production Corporation for Artistic Production
TIHAMA FOR ADVERTISING, PUBLIC RELATIONS AND MARKETING COMPANY 
