# JOFO Nonwoven to acquire 70% of Takween's subsidiary Advanced Fabrics

Takween Advanced Industries received no-objection from the General Authority for Competition for China-based JOFO Nonwoven Co. Ltd. to acquire 70% of its subsidiary Advanced Fabrics (SAAF) for a total enterprise value of $90 million. The deal is expected to close on June 30, 2021.

- Type: Acquisition
- Announced: 2021-06-21
- Where: Saudi Arabia
- Value: $90.0M
- Status: announced
- Products: nonwoven fabrics
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Advanced Fabrics (SAAF)](https://endata.com/companies/25027.md) (target)
- [Takween Advanced Industries](https://endata.com/companies/47767.md) (target)
- [JOFO Nonwoven](https://endata.com/companies/55947.md) (acquirer)

## Sources

- [argaam.com](https://www.argaam.com/en/article/articledetail/id/1476226), 2021-06-21: "Takween Advanced Industries Co. (Takween) received no-objection from the General Authority for Competition (GAC), on June 21, to complete an economic concentration process with China-based JOFO Nonwoven Co. Ltd. that will acquire 70% of its subsidiary, Advanced Fabrics (SAAF)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.