SABIC Agri-Nutrients Co. announces the latest developments in relation to obtaining the required regulatory approvals to complete the transaction in accordance with terms and conditions of the SPA
| Element List | Explanation |
|---|---|
| Introduction | SABIC Agri-Nutrients Co.’s (the “Company”) previous announcement on Tadawul dated 05/06/1444H corresponding to 29/12/2022G provided that the Company was working on obtaining the required regulatory approvals to complete the transaction in accordance with terms and conditions of the share purchase agreement signed on 21-06-1443H corresponding to 24-01-2022 (“SPA”) and it is expected that the financial impact of the transaction will appear during the first half of the fiscal year ending on 31-12-2023G.
Accordingly, the Company would like to announce to its shareholders the completion of the procedures to acquire (49%) in the share capital of ETG Inputs Holdco LTD in accordance with the SPA and it is expected that the financial impact of the transaction will appear during the second quarter of the fiscal year ending on 31-12-2023G. The acquisition financed by the Company’s resources. |
| Previous Announcement | SABIC Agri-Nutrients Co. announces to its shareholders that it is working on obtaining the required regulatory approvals to complete the transaction in accordance with terms and conditions of the SPA and it is expected that the financial impact of the transaction will appear during the first half of the fiscal year ending on 31-12-2023 |
| Date of Previous Announcement on Tadawul's Website | 2022-12-29 Corresponding to 1444-06-05 |
| Percentage of fulfilled achievement | Not applicable |
| Event's Expected Completion Date | 10-04-2023G |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | No material financial impact |
| Additional Information | The financial impact of the transaction will appear in financial results of the second quarter of the fiscal year ending on 31-12-2023G. The acquisition financed by the Company’s resources |
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