Riyadh –  United Wire Factories Company (Aslak) has signed a non-binding memorandum of understanding (MoU) with Themar for Food and Catering Company for a potential acquisition of a stake in the catering firm.

Aslak said the MoU, which can be renewed upon both companies’ approval, will be effective for 90 days starting from the date of signing the deal on 21 October 2021, according to a bourse filing on Sunday.

The two parties will be determining the final deal value once the evaluation and due diligence works are completed.

The listed company said the financial impact of this potential equity acquisition will be determined later.

Source: Mubasher

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