Reuters logo
Saudi telco Atheeb sells Riyadh real estate for $43 mln
June 30, 2014 / 6:02 AM / 3 years ago

Saudi telco Atheeb sells Riyadh real estate for $43 mln

DUBAI, June 30 (Reuters) - Saudi Arabia’s Etihad Atheeb has sold land and property in the kingdom’s capital Riyadh for 160 million riyals ($42.7 million), the fixed line telecommunications operator said on Monday.

Loss-making Atheeb, which uses the brand name Go, sold a building and two plots of land to an unidentified buyer, according to a company filing to Riyadh’s bourse.

These assets had a book value of 60 million riyals, giving Atheeb a gain of 100 million riyals, which will be reflected in its first-quarter results, the statement said. Atheeb’s financial year starts on April 1.

The company made a net loss of 249 million riyals in the 12 months to March 31.

$1 = 3.7503 Saudi Riyals Reporting by Matt Smith; Editing by Andrew Torchia

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below