BinDawood Secures Financing for Zahrat Al Rawdah Acquisition
Deal News | Jan 30, 2025 | Zawya
BinDawood Holding Company has secured a 300 million Saudi riyal financing agreement with Emirates NBD Saudi Arabia, which is compliant with Sharia law. This funding is intended to partially finance the acquisition of Zahrat Al Rawdah Pharmacies Company. The loan is structured with a three-year duration and flexibility for early repayment without providing any guarantees. Previously in November 2024, BinDawood had announced the acquisition of Zahrat Al Rawdah from Gulf Pharmaceutical Industries (Julphar) for SAR 444.1 million. This strategic financial move underscores BinDawood’s continued expansion in the Saudi Arabian market.
Sectors
- Retail
- Finance
- Pharmaceuticals
Geography
- Saudi Arabia – The primary location for the acquisition and financing activities, and where BinDawood Holding operates.
Industry
- Retail – The acquisition of Zahrat Al Rawdah Pharmacies indicates an expansion in the retail pharmacy sector.
- Finance – BinDawood has secured a financial deal with Emirates NBD for funding the acquisition.
- Pharmaceuticals – Involvement of Zahrat Al Rawdah Pharmacies being acquired from Gulf Pharmaceutical Industries shows relevance to this sector.
Financials
- $79.99 million – Amount of financing secured by BinDawood from Emirates NBD.
- SAR 444.1 million – Purchase price for the acquisition of Zahrat Al Rawdah Pharmacies.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BinDawood Holding Company | Buyer | Company | A major retail company focused on expansion within the Saudi Arabian market. |
| Zahrat Al Rawdah Pharmacies Company | Target | Company | A pharmacy company being acquired by BinDawood Holding. |
| Gulf Pharmaceutical Industries (Julphar) | Vendor | Company | The seller of Zahrat Al Rawdah Pharmacies. |
| Emirates NBD Saudi Arabia | Financier | Company | Provided the financing agreement to BinDawood for the acquisition. |