Riyadh – Mubasher: Jazan Energy and Development Company (Jazadco) has signed a memorandum of understanding (MoU) with Jabal Ohod Holding to study the acquisition of the company.

The six-month deal has no relates parties and is not expected to have any financial impact, according to a filing to the Saudi Stock Exchange (Tadawul) on Thursday.

Jazadco will determine the total number of stakes and their value later after the due diligence.

It is worth noting that Jeddah-based Jabal Ohod Holding is specialized in electricity generation and transmission, high-voltage power works, distribution, and maintenance.