Budget Saudi completed the acquisition of Autoworld for $121m.

Budget Saudi, a comprehensive mobility solutions provider in the Kingdom of Saudi Arabia, completed the acquisition of Autoworld, a vehicle leasing company, for $121m. "The strategic acquisition of AutoWorld provides a robust platform for future growth opportunities, bolstered by the strong KSA real economy, structural changes in the transportation sector, and the flourishing tourism industry. This deal, the first of its kind in Budget Saudi's history, enables us to lay the groundwork for strategic initiatives that drive sustainable growth, enhance competitiveness, and create shareholder value," Fawaz Danish, Budget Saudi President & Group CEO.