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National Building extends two MoUs on coronavirus-related delays

National Building extends two MoUs on coronavirus-related delays
The two MoUs were extended for three months until 7 December 2020
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Riyadh – Mubasher: The National Building and Marketing Company has extended a memorandum of understanding (MoU) to acquire the entire capital of Al-Kharj Union Company for Metal Casting at an initial sum of SAR 20 million. 

It further renewed another MoU to take over a 50% stake in German Saudi Company for Industry for SAR 200 million. The two MoUs were extended for three months until 7 December 2020, according to bourse disclosures on Sunday.

The extensions come due to delays caused by the COVID-19 pandemic and the need to complete necessary procedures for the final deals.