Taiba Investments extends MoU with Shuaa Capital Saudi Arabia

The listed firm has extended the deal for 90 more days starting 8 September 2021

  
A Saudi man inspects a screen showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019.

A Saudi man inspects a screen showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019.

REUTERS/Ahmed Yosri
Riyadh – Taiba Investments Company has extended a memorandum of understanding (MoU) with Shuaa Capital Saudi Arabia Company to conclude the acquisition of the two companies owning Centro Waha Hotel Riyadh and Centro Shaheen Hotel Jeddah.

The listed firm has extended the deal for 90 more days starting 8 September 2021, according to a bourse filing on Wednesday.

Taiba Investments earlier extended the MoU for a duration of 45 days, which ended on 7 September.

Extending the agreement aims to complete and finalise the due diligence activities.

The original MoU was signed in May for an investment value of SAR 328 million.

Source: Mubasher

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