Saudi Fisheries pushes Al Haridah’s stake sale to end-August
SFICO
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Riyadh – Mubasher: Saudi Fisheries Company (SFICO) has announced a further extension to the timeline for finalizing the divestment of a 51% majority stake in Al Haridah Aquaculture Company.
In a regulatory filing on the Saudi Exchange (Tadawul), the company confirmed that both parties involved in the transaction have mutually agreed to prolong the period required for the transfer of lease agreements and operational licenses.
The new deadline for these administrative and legal transfers is now set for 31 August 2026, shifting from the previous cut-off date of 26 June 2026.
The latest announcement serves as a continuation of a series of disclosures regarding the strategic sale of SFICO’s interest in its aquaculture subsidiary.
The divestment process has been subject to several updates since its initial inception, with previous milestones reported on 29 October 2025, 1 March 2026, and most recently on 27 April 2026. This most recent extension highlights the ongoing complexities involved in the regulatory and logistical handover of the Al Haridah facility.
According to the disclosure, the primary focus of this extension period is the formal transfer of the lease contract and the associated aquaculture licenses to the new ownership structure.
Such processes in the Saudi industrial and agricultural sectors often require extensive coordination with various governmental and regulatory bodies to ensure that all environmental, operational, and land-use permits are correctly reassigned.
By extending the period until the end of August 2026, both SFICO and the purchasing party aim to ensure a compliant and seamless transition of the asset’s legal framework.
Saudi Fisheries clarified that this administrative delay does not currently carry any additional financial implications or associated costs for the firm.
The company stated that the "not applicable" status remains for any changes in costs related to the event, suggesting that the terms of the original sale agreement remain intact despite the adjustment to the operational calendar.
The sale of the 51% stake in Al Haridah Aquaculture Company is a significant component of SFICO’s broader corporate strategy. As a long-standing player in the Kingdom’s food security sector, SFICO’s decision to reduce its stake in this specific aquaculture venture is viewed by market observers as a move to optimize its investment portfolio and focus on core operational efficiencies.
Al-Haridah is a notable asset within the company's production chain, and the successful completion of this stake sale is expected to impact SFICO’s balance sheet and future capital allocation.
Source: Mubasher Source: {{details.article.source}}