Arab Sea Agrees to Sell SeaPay for 35M SAR
Riyadh, Saudi Arabia — Arab Sea Information Systems Company has signed a Memorandum of Understanding with PayTabs Group (Growth Makers Company) to sell its entire 100% stake in Arab Sea Financial Company (SeaPay) for 35 million SAR. The MoU was signed on October 22, 2026. SeaPay is a wholly owned subsidiary of Arab Sea Information […] The post Arab Sea Agrees to Sell SeaPay for 35M SAR appeared…
On October 22, 2026, the Arab Sea Information Systems Company and PayTabs Group agreed to a Memorandum of Understanding to transfer full ownership of SeaPay, a wholly owned subsidiary of Arab Sea Information Systems Company. The transaction value was set at 35 million SAR, with the agreement lasting six months or until both parties finalize a definitive Sale and Purchase Agreement, whichever occurs first.
Neither party involved their affiliated entities in the deal. Both sides must undergo a due diligence process before executing a binding Sale and Purchase Agreement and obtaining regulatory approvals.
Written by urgent.news from The Saudi Standard's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
