Riyadh – Sharikat Mubasher: Cenomi Retail, a leading retail operator in Saudi Arabia, announced the sale of a 49.95% stake to UAE-based Al-Futtaim Group for over SAR 2.5 billion.
According to an official press release by Al-Futtaim, the deal was executed through a share purchase agreement between Al-Futtaim and Cenomi’s founding shareholders, including members of the Alhokair family and affiliated entities. Shares were priced at SAR 44 each.
As part of the transaction terms, Al-Futtaim is expected to provide a shareholder loan of at least SAR 1.3 billion to support Cenomi Retail’s balance sheet and future growth plans. The agreement, still subject to regulatory approval, marks a strategic move that introduces Al-Futtaim as a long-term investor with deep regional retail experience.
Cenomi Retail sees the partnership as a significant step in its transformation strategy, while Al-Futtaim highlighted its confidence in Saudi Arabia’s economy and Vision 2030. Both parties expect the deal to accelerate digital transformation, expand brand offerings, and create long-term value across the Kingdom’s evolving retail landscape.
