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Saudi SIDC Will Take Stake in Sleep High After Court Ruling

Sept. 10 (Bloomberg) -- 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 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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