Anaam extends MoU to acquire 55% of ARW Industry for 60 days

23/02/2022 Argaam
Logo of Anaam International Holding Group

Logo of Anaam International Holding Group

Anaam International Holding Group announced, on Feb. 23, extending the non-binding memorandum of understanding (MoU) signed to acquire a 55% stake of ARW Industry Co., for additional 60 days as of Feb. 24, according to a bourse filing.

 

Anaam said more time is required to finalize the due diligence and the other related procedures.

 

Any related material developments will be announced in due course, the statement added.

 

Anaam signed, on Dec. 26, a non-binding MoU to acquire 55% of ARW Industry Co., at an initial purchase amount of SAR 23.5 million.

 

For More Mergers and Acquisitions

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