Saudi SIDC Will Take Stake in Sleep High After Court Ruling

Saudi Company for Industrial Development said it will take over stakes in mattress maker Sleep High and companies in Egypt after the Court of Grievances ruled in its favor in a dispute with a former partner.

The former partner, whom SIDC (SIDC) didn’t name, has received a letter from the executive judge of the State Court in Jeddah upholding the ruling and telling it to hand over the stakes, according to a statement on the Saudi bourse website today.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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