JEDDAH, 11 March 2004 – ARA Media Services LLC (AMS) said that the raising of funds for ARA Events Management Company has been successfully completed. The ARA Events Management Company will be partly owned by AMS and by a group of Saudi investors involved in the media sector and have contributed SR6 million to the new company.
Financial Transaction House (FTH) the lead financial advisers, raised the money. Its Chief Executive Faisal Sairafi said that the negotiations went smoothly and concluded to the satisfaction to all.
ARA Events Management will create and organize various types of events in Saudi Arabia and the region to cater to the increasing demand for professional management of formal functions, including the Jeddah Shopping Festival, concerts, conferences and exhibitions.
AMS is the exclusive representative for various media owned by the ARA group including MBC, MBC FM and Al Arabiya as well as other regional media including Future TV and Al Watan newspaper.
FTH is an investment banking advisory firm in Saudi Arabia. It provides a wide range of corporate finance advisory services to a diversified client base in the Middle East. These include mergers & acquisitions, private placements, public offerings and general strategic and financial advisory.