The way I read they are two separate entities. The first (1) as...

The way I read they are two separate entities.
The first (1) as per your post is under scrutiny and the second (2), to me is still clear (which WCL has been bought through).
Given what the first (1) is into and I must admit I haven't done enough research, it is quite possible from the articles I've read recently about the Middle East that there are issues with what they deal in ie construction etc. in these locations (mere thoughts only):

(1)Its main Saudi division, Saad Trading, Contracting & Financial Services Company, is formed
from the original Saad business and continues to grow its operations both in Saudi Arabia and
more widely in the GCC. Starting as a civil engineering, construction and property investment
company, it is now a major business services group and has just completed the acquisition of a
number of major new development sites.

(2)Saad Investments Company Limited is the Group’s major international finance and investment
arm, with interests worldwide. The investment portfolio – of listed debt and equity issues, funds
and real estate – is managed by a team of experienced bankers, traders, accountants, and lawyers
operating from offices in Bahrain and Geneva, with associated companies in major financial
centres.