AlBabtain Food extends MoU with Integrated Business for additional 60 days

Logo of AlBabtain Food

Abdulaziz and Mansour Ibrahim Albabtin Co. (AlBabtain Food) announced extending the signed non-binding memorandum of understanding (MoU) with Integrated Business Co. LLC for additional 60 days until May 24, 2023, to finalize the relevant legal, financial and technical studies, according to a statement to Tadawul.  

The renewal will be subject to the same terms and conditions, the firm noted.  

The relevant financial impact will be determined after finalizing the deal.  

Any material developments regarding the MoU or the transaction will be announced in due course.  

On Dec. 25, 2022, AlBabtain Food signed a non-binding MoU with Integrated Business Co. for 90 renewable days as of the signing date to study the possible stake and feasibility of acquiring the latter, according to Argaam.   

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