Riyadh – Mubasher: Tourism Enterprise Company (Shams) on Wednesday announced that it has extended a memorandum of understanding (MoU) to acquire of Saud Al-Madaj Group’s stake in three firms.

Shams has extended the deal for an extra 60 days, the company said in a statement to the Saudi Stock Exchange (Tadawul).

The tourism company noted that the extension of the acquisition MoU has no financial impact.