Signal · Supplier & Corporate Risk
Takween completes acquisition of JOFO’s 70% stake in SAAF
What the source reported
Source-reported<p ><img src="https://argaamplus.s3.amazonaws.com/1ebaca01-6e51-4ec3-9f39-4e56fb51c4d1.png" ></p> <p class="ckeCaption" >SAAF is now wholly owned by Takween</p> <hr> <p ><a href="http://www.argaam.com/en/tadawul/tasi/takween" target="_blank">Takween Advanced Industries Co.</a> completed the acquisition of a 70% stake in Advanced Fabrics Factory Co. (SAAF) from its Chinese partner JOFO Nonwovens Co.</p> <p ></p> <p >The Saudi-listed firm now fully owns SAAF, with all regulatory procedures complete including amendment to SAAF's commercial registration and Articles of Association.</p> <p ></p> <p >There was no material change in the costs associated with the transaction, Takween said in a statement to <strong>Tadawul</strong>.</p> <p ></p> <p >Takween signed in April the agreement to acquire JOFO’s stake in SAAF, <span ><strong>Argaam</strong></span> earlier reported.</p> <p ></p> <p >The transaction involved the acquisition of the Chinese partner’s entire 70% stake in SAAF’s capital, representing 129,360 shares. Takween already owned the remaining 30% stake, representing 55,440 shares.</p> <p ></p> <p >In July, Takween obtained a no-objection from the General Authority for Competition (GAC) to complete the acquisition.</p>
- Publication
- Argaam - Company Disclosures · Stock Exchange/Regulatory Announcements
- Published
- 8th September 2026
- Original report
- argaam.com
ProcIntel stores what the source published in its feed — a headline, a summary and a link. It does not store or reproduce the full article.
What ProcIntel recorded
ProcIntel-derived- Category
- Supplier & Corporate Risk
- Geography
- Saudi Arabia, UAE
- Organisations
- None identified
- Collected
- 8th September 2026 · 06:20
Initial assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.
A provisional, automatically computed reading of this individual Signal, before Event extraction or human review. Not a final rating.
Initial Significance Material (44.0/100). Strongest contributor: Procurement Impact (27.0/30 points). Limiting factor: Geographic Breadth (0.0/10 points). Initial Confidence Low (33.78/100, data sufficiency: Sufficient, Sufficient via independent_corroboration). Strongest contributor: Source Authority (12.0/40 points). Limiting factor: Source Authority (12.0/40 points).
- Strongest contributor
- Procurement Impact
- Limiting factor
- Geographic Breadth