Riyadh – Mubasher: The National Building and Marketing Company has cancelled its previously-signed memorandum of understanding (MoU) to acquire the entire capital of Etihad Al Kharj Metal Casting Co. as no agreement has been reached, according to a bourse statement on Wednesday. 

Last February, National Building penned a MoU to buy Etihad Al Kharj at an initial value of SAR 20 million.

The MoU was extended twice in June and September for an additional six months due to delays caused by the COVID-19 pandemic.