AXP · News · 20260908N

Acquisition / Partnership / Divestiture

AMERICAN EXPRESS CO · 2026-09-08 · Importance 59 · Surprise 60

Saudi Investment Bank sold its 50% stake in American Express Saudi Arabia to Amex Middle East. The transaction was completed for SAR1.4 billion, equivalent to approximately $381 million, in cash. SAIB recognized a SAR792 million gain on the sale and planned to use the proceeds to strengthen its financial position. American Express Saudi Arabia issues credit cards and provides other American Express products in Saudi Arabia.

Key facts

• Allworth Financial reduced its American Express stake by 10.3% in Q2, selling 16,336 shares and retaining 142,143 shares valued at approximately $48.1 million. source
• Arizona State Retirement System sold 3,525 American Express shares in Q2, retaining 147,476 shares valued at $49.9 million. source