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Al Mommar inks deal to acquire 75% stake in Egyptian firm

Al Mommar inks deal to acquire 75% stake in Egyptian firm
The company is currently completing all the relevant legal paperwork
MIS
7200
-3.69% 43.00 -1.65

Riyadh – Mubasher: Al Mommar Information Systems (MIS) signed a deal to acquire 75% of the shares of Egypt-based Fingerprint Consultancy.

The company is currently completing all the relevant legal paperwork, according to a statement to the Saudi Stock Exchange (Tadawul) on Sunday.

The deal is forecast to be financed by the Saudi firm’s cash flows from operations.

In November 2019, MIS signed a memorandum of understanding (MoU) with Fingerprint Consulting to explore the possibility of acquiring 75% of the company’s shares.