Riyadh – Anaam International Holding Group signed a non-binding memorandum of understanding (MoU) with Saudi Wasit Establishment on 4 April to acquire 51% of Wasit Factory.

The potential acquisition aims to diversify the business of Anaam International while utilizing the opportunities available in the entertainment and tourism sector, according to a disclosure to the Saudi Stock Exchange (Tadawul) on Monday.

The MoU will be effective for 60 days starting the signing date.

Both parties agreed that the transaction value when reaching a final agreement for the potential acquisition would be paid in cash.

Anaam International also inked a non-binding MoU in late March to fully acquire Al Takamul National Agriculture Company.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.