Referring to the announcement made by Saudi Telecom Company (stc) on the Saudi Exchange on April 25, 2023, regarding the signing of a sale and purchase agreement (SPA) by its subsidiary, Telecommunications Towers Company (TAWAL), to purchase 3 tower companies from United Group in the countries of Bulgaria, Croatia, and Slovenia for a total cash consideration, The sale will be based on 100% enterprise value, which translates to SAR 5 billion or EUR 1.220 billion. It was decided that the cash consideration for the transaction would be based on the SPA's agreed-upon terms for debt, cash, and working capital.
