Riyadh – Mubasher: Saudi Arabia-based L'azurde Company for Jewellery announced completing due diligence studies to acquire 100% equity stake of Izdiad Commercial Company of Arabia on Sunday, 25 February.

Izdiad Commercial Company of Arabia is a limited liability firm which is owned by Tamkeen Industrial & Trading Company (Tamkeen).

Tamkeen is operating in luxury jewelry retail sector in Saudi Arabia.

“The management submitted the results and its recommendations to the Board of Directors, [and] discussions with Tamkeen are ongoing and any development will be communicated later,” according to a statement to the Saudi Stock Exchange (Tadawul).