Budget Saudi CEO expects new acquisition to have positive impact on financials 

RIYADH: Budget Saudi’s newly proposed acquisition of logistics and shipping firm Overseas Development is a “step in the right direction and at the right time.” CEO Fawaz Danish told Argaam. 

Earlier this week, Aljozoor Alrasekha Trucking Co., a wholly owned unit of Budget Saudi, signed a memorandum of understanding for the acquisition of a 70 percent stake in Overseas Development’s subsidiaries in Saudi Arabia, the UAE, and Kuwait.