"Al-Othaim Holding" becomes a strategic partner in "Alfa Financial" with a 20% stake in the company's capital

12-12-2024

Al-Othaim Holding Company announced the completion of its process of joining as a strategic partner in Alfa Financial Company with a 20% stake in the company's capital.

On this occasion, Mr. Abdullah bin Saleh Al-Othaim, Chairman of the Board of Directors of Al-Othaim Holding Company, stated: "We are pleased to complete this strategic partnership with Alfa Financial, in which we see a promising opportunity to enhance our investment portfolio in the financial sector and contribute to the growth of a promising company like Alfa Financial, which has proven its efficiency and ability to provide innovative financial services. We are confident that this partnership will benefit the shareholders and customers of both companies and will support the development of the financial sector in the Kingdom in line with the objectives of Vision 2030."

For his part, Mr. Khalifa bin Abdulatif Al-Mulhem, Chairman of the Board of Directors of Alfa Financial Company, welcomed this step, saying: "We are proud of Al-Othaim Holding Company joining as a strategic partner in Alfa Financial Company. This partnership represents an important milestone in the company's journey and reflects the great and appreciated trust that Alfa Financial has received from its supporting partners. It also enhances our vision and ambitions to continue providing innovative financial solutions, expand our customer base, and benefit from the extensive expertise of Al-Othaim Holding Company in various fields."

It is noteworthy that Alfa Financial Company is licensed by the Capital Market Authority and offers a variety of financial and investment services and products, while Al-Othaim Holding Company is one of the most prominent investment companies in the Kingdom with a diversified portfolio that includes the retail, real estate, entertainment, and investment sectors.