Tuesday, Jul 24, 2012
RIYADH (Zawya Dow Jones)--Saudi Arabian retailer Fawaz Abdulaziz Alhokair & Co. (4240.SA) said Tuesday it has signed a share-purchase agreement to buy NESK Group for Trading Project LLC for 730 million Saudi riyals ($194.7 million).
The acquisition will be financed mainly via a long-term loan, Alhokair said in a statement posted on the Saudi bourse website.
NESK franchises several brands including Mango, Stradivarius, Okaidi and Jerry Weber in the kingdom, according to the statement.
-By Ellen Knickmeyer, Dow Jones Newswires, +971 55 1093359, ellen.knickmeyer@dowjones.com; Twitter: @ZDJnews
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
24-07-12 0807GMT
