Extending the MoU aims to allow the completion of preparatory work
ANAAM HOLDING
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Riyadh – Mubasher: Anaam International Holding Group has extended its non-binding memorandum of understanding (MoU) with Saudi Wasit Establishment for 30 working days as of 3 June 2021, according to a bourse filing on Thursday.
Extending the MoU aims to allow the completion of preparatory work necessary to implement the 51% acquisition of Wasit Factory and other final agreements.
Anaam International has first penned the non-binding deal in April. Both parties back then agreed that the transaction value would be paid in cash when reaching a final agreement for the potential acquisition.
Source:
Mubasher