Saudi Investment Bank Sells Stake in American Express Saudi Arabia for SAR 1.43 Billion

The Saudi Investment Bank (SAIB) has signed an agreement to sell its entire 50% stake in American Express Saudi Arabia to American Express (Middle East) for SAR 1.43 billion, approximately $381.36 million.

The sale consideration will be paid in cash upon completion, along with a deferred payment determined by the shareholders' agreement between the two parties.

This transaction marks a strategic exit for SAIB from its investment in American Express Saudi Arabia and is expected to generate a substantial capital gain of approximately SAR 792.41 million for the bank.