{
  "id": 16451442,
  "title": "Arab Sea Agrees to Sell SeaPay for 35M SAR",
  "url": "https://urgent.news/2026/10/25/arab-sea-agrees-to-sell-seapay-for-35m-sar",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-25T08:05:26.000Z",
  "source": {
    "name": "The Saudi Standard",
    "slug": "the-saudi-standard",
    "url": "https://saudistandard.com/2026/10/25/arab-sea-agrees-to-sell-seapay-for-35m-sar/"
  },
  "original_language": "en",
  "account": "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.",
  "summary": "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…",
  "key_points": [
    "Arab Sea Information Systems Company and PayTabs Group signed MoU on Oct 22, 2026",
    "SeaPay transferred to PayTabs for 35M SAR, deal valid 6 months or until final agreement",
    "No affiliated entities involved, both sides undergo due diligence before finalizing deal"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}