Riyadh – Mubasher: Anaam International Holding Group has signed a non-binding Memorandum of Understanding (MoU) for a potential acquisition of all shares of Al Takamul National Agriculture Company.

The transaction value will be paid by issuing shares in Anaam Holding Group, based on the final value that is reached after the completion of the due diligence exercise, according to the company's disclosure to the Saudi Stock Exchange (Tadawul) on Tuesday.

Anaam has appointed Wasatah Capital as a financial advisor for this potential transaction.

The agreement will be effective for a period of 180 days after the signing date.

Established in 1984, the business of Takamul National Agriculture Company focuses on the supply of seeds, fertilisers, pesticides, and agricultural soil of various kinds.

The company also owns the Nawara Nursery through which trees, outdoor shrubs, summer, and winter annual flowers are produced.