Saudi Arabia’s Dur Hospitality and Taiba Investments are in merger talks that could create a company with combined assets worth $2.4 billion across the kingdom’s hotel, tourism and real estate sectors.
Dur and Taiba announced the merger talks in similar bourse statements on Sunday, adding that an agreement may not be reached between to the two companies in which Aseelah Investment Co is a significant shareholder.
Taiba, which has interests in hotels, tourism facilities and real estate, has a market capitalisation of $1.5 billion, Refinitiv data shows.
Dur’s market capitalisation is $923 million, with investments in hotels, travel agencies and entertainment centres, Refinitiv data shows.
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