Saudi Ministry of Finance Acquires 86% Stake in Binladin Global Holding Company After Debt Settlement

Al Arabiya Business has revealed that the Saudi Ministry of Finance will become the majority owner of Binladin Global Holding Company, securing an 86% share after the company’s general assembly agreed to a capital increase by issuing new shares to the Ministry in exchange for settling outstanding debts.
According to details, Binladin shareholders approved converting part of the company's financial obligations into shares, a move aimed at restructuring the group’s financial standing and bolstering its capital stability.
This decision is part of ongoing efforts to settle accumulated debts, resulting in the Ministry of Finance acquiring the largest share of capital, reflecting direct government support in the reorganization of one of the kingdom’s largest contracting groups.

The measure is anticipated to strengthen the company’s financial solvency and enable it to resume operational activities on a more sustainable footing in the coming period.