Saudi-based National Building and Marketing Co. (NBM) signed an agreement with Ajeej Steel manufacturing Co., to fully acquire the company's capital for a total value of 180 million riyals ($48 million).
In a statement to Tadawul, NBM said the transaction is in line with its strategies for growth and expansion.
The company expects to complete the transaction by March 20.
(Writing by Brinda Darasha; editing by Daniel Luiz)
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