SVCP extends agreement to buy 75% of Advanced Piping for 60 days

16/08/2020 Argaam

 

Saudi Vitrified Clay Pipes Co. (SVCP) extended the agreement to acquire 75% of Advanced Piping Solutions Co. for additional 60 days, the company said in a bourse statement. 

  

Both parties agreed to extend the agreement in writing, SVCP explained, adding that any related developments will be announced in due course. 

 

In April, SVCP inked an agreement to buy a 75% stake in Advanced Piping Solutions for SAR 56.25 million. 

  

SVCP announced in May extending the agreement term for 90 days due to the COVID-19 outbreak. 

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