Methanol Chemicals Company announces the Latest Developments regarding its signing of a binding offer to acquire 80% of Global Company for Chemical Industries Ltd. (GCI)
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement of the Methanol Chemicals Company “Chemanol” published on Tadawul website dated 01/12/1444 corresponding to 19/06/2023 AD regarding its signing of a binding offer to acquire 80 % of Global Company for Chemical Industries Ltd. (GCI), the company pleased to announce that the General Authority for Competition issuance an approval "No Objection Certificate" with respect to the completion of the acquisition transaction, noting that financial and legal due diligence and the outcomes of negotiations with lenders and creditors are still ongoing.
The Company will announce any updates or developments in this regard in due course of time. |
| Previous Announcement | Methanol Chemicals Company (Chemanol) announces the signing of a binding offer to acquire 80% of Global Company for Chemical Industries Ltd. (GCI) |
| Date of Previous Announcement on Tadawul's Website | 2023-06-19 Corresponding to 1444-12-01 |
| Percentage of fulfilled achievement | N/A |
| Event's Expected Completion Date | 18-12-2023 |
| Reasons for Exceeding the Announced End Date | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Impact of the Delay on the Company's Financial Results | N/A |
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