Jul 20 2011 |
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KHC Announces that the Consortium Entered Into a Non-Binding Term Sheet With Zain KSA to Acquire Zain Kuwait Stake In Zain KSA
Further to the Kingdom Holding Company (" KHC ") announcement on the Tadawul website on 15 June 2011, KHC and Bahrain Telecommunications Company BSC (" Batelco ") (together, the "Consortium") today announced that on the 19th of July 2011, it entered into a non-binding term sheet (the "Term Sheet") with Mobile Telecommunications Company Saudi Arabia ( Zain KSA ) in respect of the proposed acquisition by the Consortium of all the shares held by Mobile Telecommunications Company KSC (" Zain ") in the Company. This follows Zain 's acceptance of a non-binding offer from the Consortium to acquire such shares, being 25% of the total issued shares of the Company, as previously announced by each of Zain , KHC and Batelco (the "Proposed Acquisition").© Tadawul 2011
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