Al-Babtain extends MoU with Portuguese Metalogalva by 2 months

23/02/2020 Argaam

Al-Babtain Power & Telecommunication Co. (Al-Babtain) agreed with Portuguese Metalogalva to extend the binding memorandum of understanding (MoU) for sale of 49% stake in Al-Babtain France to the latter by 2 months, the company said in a bourse filing on Sunday.

 

The extension was agreed due to non-completion of the deal’s legal draft.

 

The extension will not have any significant financial impact, Al-Babtain said, noting further developments will be announced in due course.

 

In December 2019, Al-Babtain inked a binding MoU to sell 49% of Al-Babtain France to Portuguese Metalogalva for SAR 12.5 million (EUR 3 million).

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.