City Cement Co. announced that it has completed all studies related to a potential acquisition of Umm Al-Qura Cement Co (UACC) and has decided not to proceed with the transaction.
In a statement to Tadawul, the company cited its current priorities, available investment opportunities, ongoing development initiatives, and the performance of its subsidiaries as key reasons behind the decision. City Cement said it will instead focus on alternative investment avenues that are more closely aligned with its strategic plans and long-term objectives.
The company added that it continues to evaluate investment opportunities based on criteria aimed at maximizing shareholder value, noting that the decision will have no material financial impact.
City Cement also reaffirmed its full commitment to disclosure requirements under applicable laws and regulations, stressing that it will announce any material developments related to its business in due course.
In October 2025, City Cement disclosed that the deadline to meet the conditions of the implementation agreement with UACC had expired without the required conditions being fulfilled or the necessary procedures completed to finalize the deal, according to Argaam. The implementation agreement was not renewed.
The company said it is reviewing all available options to safeguard shareholders’ interests, including the potential resubmission of an acquisition offer for UACC shares should conditions become favorable and the move align with City Cement’s best interests.
