Anaam to acquire 51% stake in Saudi Wasit Factory for SAR 24.5 mln

01/07/2021 Argaam

Logo of Anaam International Holding Group

Anaam International Holding Group signed an agreement with Saudi Wasit Establishment to acquire 51% stake in Saudi Wasit Factory for Entertainment & Beauty Systems for SAR 24.48 million, the company said in a bourse filing.

 

The deal is subject to the approval of the regulatory authorities and included no related parties. It also came within Anaam’s expansionary strategy aimed at boosting its market presence.

 

Updates will be duly revealed, the statement added.

 

In April 2021, Anaam signed a non-binding memorandum of understanding (MoU) with Saudi Wasit Establishment for the potential acquisition of 51% stake in Saudi Wasit Factory for Entertainment & Beauty Systems, Argaam report.

 

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