American Express Middle East acquires American Express Saudi Arabia
American Express Middle East, a regional payments and financial services operator, has agreed to acquire the 50% stake in American Express Saudi Arabia held by Saudi Investment Bank (SAIB) in a cash deal valued at approximately USD 381.36 million (SAR 1.43 billion). The agreement transfers SAIB’s entire ownership position to American Express Middle East.
SAIB signed the sale agreement with American Express Middle East under the shareholders’ arrangement put in place on September 25, 2018. The main consideration will be paid in cash, and there will be an additional deferred amount representing SAIB’s share in distributable profits from the signing of the transaction until completion of the share transfer; the final value of the deferred consideration will depend on distributable profits generated by American Express Saudi Arabia during the period leading up to completion. SAIB reported a book value for its investment of around USD 170 million (SAR 637.70 million) as of November 30, 2025, and expects the transaction to result in an estimated gain of USD 211.14 million (SAR 792.4 million).
American Express Saudi Arabia operates in the specialized payments and financing space. The transaction consolidates American Express Middle East’s ownership of the Saudi business and reflects SAIB’s move to convert a long-held strategic investment into cash.
SAIB said the proceeds will be used to support and strengthen its financial position and to serve the interests of the bank and its shareholders. The immediate milestone is completion of the share transfer, and SAIB will disclose material developments related to the transaction, including the completion date and the final deferred purchase consideration, in accordance with applicable regulations.
