Al-Futtaim completed the acquisition of 49.99% stake in Cenomi Retail for SAR2.5bn.

Al-Futtaim, a global group in automotive, real estate, and retail, completed the acquisition of 49.99% stake in Cenomi Retail, a company that offers a wide range of fashion and lifestyle products, for SAR2.5bn. “The entry of Al-Futtaim is a milestone in Cenomi Retail’s journey. This strategic partnership underscores the strength of our business model and positions the Company to deliver enhanced value, stronger competitiveness, and sustainable growth for all shareholders. The strategic partnership with Al-Futtaim’s marks a new era for Cenomi Retail. We will accelerate innovation, strengthen our operations, enhance our digital capabilities while broaden opportunities for our employees as we continue to redefine and elevate retail experiences across the Kingdom," Salim Fakhouri, Cenomi Retail Chief Executive Officer.