Anaam extends MoU to acquire stake in United Ink

Logo of Anaam International Holding Group

Anaam International Holding Group extended the non-binding memorandum of understanding (MoU) with Al Murjan Group Holding Co. to acquire its stake in United Ink Production Co., for additional 30 days starting from the end of the original MoU on May 2, 2023, according to a statement to Tadawul.

The extension will allow the completion of due diligence and other preparatory work necessary to implement the deal and other final agreements, the company said.

The 120-day MoU is renewable and will be effective as of the signing date.

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

In January, Anaam signed a non-binding MoU with Al Murjan Group to acquire its entire 69.33% stake in United Ink Production Co.

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