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Sarco Unit Buys 85% Stake in Advanced Industrial Supplies Co.

MT Newswires·07/23/2026 09:45:29
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09:45 AM EDT, 07/23/2026 (MT Newswires) -- Saudi Arabian Refineries Co.'s (SASE:2030), d/b/a Sarco's, subsidiary Masafi Ventures acquired an 85% stake in Advanced Industrial Supplies Co. from Adwaa Al Khalil Contracting for 12 million Saudi riyals. The petroleum refining company said Thursday the deal aligns with its long-term strategy of diversifying revenue streams and investing directly in operating businesses.