SASCO extends MoU with Falcom for 3 months on study of sale, leaseback of its sites

29/07/2021 Argaam

Logo of Saudi Automotive Services Co.

Saudi Automotive Services Co. (SASCO) extended a non-binding memorandum of understanding (MoU) with Falcom Financial Services for three months to study the options for sale and leaseback some of its owned sites, according to a bourse filing.

 

The three months will start as of the date of signing.

 

The relevant financial impact cannot be determined at present and will be announced upon completion of the deal.

 

The deal involved no related parties, and updates will be duly revealed, the statement added.

 

SASCO signed an MoU with Falcom Financial Services, on April 29, to start a due diligence examination for a deal to study the options for sale and leaseback of some of its owned sites, Argaam reported.

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