SAUDI ARABIA —Saudi water services company Miahona has finalised the acquisition of all shares in Sha’s Water Services, completing the ownership transfer on 2 November 2026 after fulfilling the regulatory and contractual requirements. The transaction makes Sha’s Water Services a wholly owned subsidiary of Miahona and follows the earlier receipt of a non-objection from the General Authority for Competition.
The agreed purchase consideration stands at SAR 95.01 million, payable in accordance with the share purchase agreement. Miahona will also pay an additional performance-linked earn-out of up to SAR 7.70 million, determined by the actual financial performance of Sha’s Water Services and its affiliates. The company confirmed that the acquisition process included completion of the regulatory procedures for transferring share ownership and notarisation of the amended bylaws.
The acquisition is intended to expand Miahona’s water distribution activities in Riyadh, with services targeting commercial, residential and industrial users. The addition of Sha’s Water Services is also expected to strengthen Miahona’s capacity to provide water services in industrial cities and broaden its reach across customer segments that require reliable distribution infrastructure.
The transaction reflects continued consolidation and expansion within Saudi Arabia’s water services market, where operators are seeking to increase their distribution networks and improve their access to industrial and urban customers. The development is relevant to the Kingdom’s water and utilities sector, particularly businesses involved in water distribution, infrastructure operation and services for industrial facilities.
For Miahona, integrating an established operating business provides an additional platform for pursuing new commercial opportunities and generating operational synergies. The acquisition may also support expansion without relying solely on the development of new distribution operations. Its financial impact is expected to be reflected in Miahona’s financial statements from the fourth quarter of 2026. Miahona operates in the water services sector, with business activities that include water distribution and services for different customer groups in Saudi Arabia.
