Tasnee eyes growth, shareholder returns post-divestment: CEO

Saudi Arabia’s National Industrialization Company (TASNEE) plans to create debt capacity for strategic growth and returns to the shareholders post-divestment, Mutlaq Al-Morished, the company’s CEO said.

“We have improved earnings before interest, taxes, depreciation and amortization (EBITDA) since 2015 despite the cyclical downturn in oil prices,” Al-Morished added in his speech at the 13th annual GPCA Forum in Dubai.

“Value creation in distressed businesses involves four strategies, including streamlining operations, restructuring debt, divesting non-core assets and optimizing capital structure,” he further noted.

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