BinDawood To Acquire Stake in IATC To Strengthen eCommerce
A unit of Saudi retailer BinDawood has signed an initial agreement to acquire a 62 per cent stake in eCommerce platform operator International Applications Trading Co.(IATC) Future Tech Retail, which is fully owned by BinDawood Holding, signed the deal with Amwaj Real Estate Co. and First Commercial Application Co. The potential acquisition comes in a […]
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A unit of Saudi retailer BinDawood has signed an initial agreement to acquire a 62 per cent stake in eCommerce platform operator International Applications Trading Co.(IATC)
Future Tech Retail, which is fully owned by BinDawood Holding, signed the deal with Amwaj Real Estate Co. and First Commercial Application Co.
The potential acquisition comes in a bid to strengthen BinDawood’s position in the eCommerce sector and enhance its omnichannel presence.
This is in line with the company’s long-term objectives as one of the leading grocery retail operators of hypermarkets and supermarkets in the Kingdom and is expected to have a positive impact on its financials.
