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Al Hokair affiliate buys 51% stake in Canada’s Iplayco

June 29, 2014 2:41 am

Saudi-based FAS Holding Co (FAS) and its Canada-based subsidiary, FAS Entertainment B.C has agreed to acquire a 51% stake in Canada’s International Play Co (Iplayco) for $8.84m. Iplayco custom designs, manufactures and installs commercial indoor playground equipment and outdoor playgrounds. FAS is an affiliate of Saudi retail group, Fawaz Abdulaziz Al Hokair. Langley, British Columbia-based Iplayco said proceeds would be used to fund working capital requirements and other corporate needs.