Tihama unit renews MoU with Cluster 2 Airports for 2 weeks

Logo of Tihama Advertising and Public Relations Co. 

Tihama Advertising and Public Relations Co. announced that its subsidiary, Tihama Education Co., agreed with Cluster 2 Airports Co. to renew a non-binding memorandum of understanding (MoU) signed to finalize the contract to launch 14 retail branches in airports.

The memorandum was renewed for two weeks from March 20, according to a Tadawul statement. 

The move aims to complete the agreement on a number of locations and lease contracts.

The financial impact will be announced upon signing the lease contracts if final agreements are reached between the two parties.

The company will announce material developments in due course, the statement noted.

In February, Tihama announced that its subsidiary, Tihama Education Co., signed a non-binding MoU with Cluster 2 Airports Co. to finalize the contract to launch 14 retail branches in airports, according to data available with Argaam.