Riyadh – Mubasher: The National Building and Marketing Company has extended a memorandum of understanding (MoU) to acquire the entire capital of Etihad Al Kharj Metal Casting Co. 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.