Kingdom Holding Company (SASE:4280) agreed to acquire additional stake in Lyft, Inc. from Alwaleed bin Talal for approximately SAR 850 million on September 11, 2018. Under the terms of the deal, Kingdom Holding will acquire 4.766 million shares of Lyft. The purchase will be self-financed. The transaction will be endorsed by shareholders of Kingdom Holding Company in the upcoming general assembly meeting. The financial impact of the acquisition will be reflected on Kingdom Holding Company's financial results for the third quarter of 2018. As of February 15, 2019, FTC granted early termination notice. As of November 9, 2019, the transaction has been approved by Kingdom Holding's Board of Directors. As of June 24, 2019, the transaction has been approved by Kingdom Holding's shareholders.

Kingdom Holding Company (SASE:4280) canceled the acquisition of additional stake in Lyft, Inc. from Alwaleed bin Talal on September 11, 2019.