Almunajem Foods extends MoU to acquire 51% of Alwashim Poultry until Sept. 30

Logo of Almunajem Foods Co. 

Almunajem Foods Co. agreed with Alwashim Poultry Co. to extend the non-binding memorandum of understanding (MoU) to acquire 51% of the latter under the same terms and conditions until Sept. 30, 2023, according to a Tadawul statement. 

The extension will allow the company to complete due diligence procedures and other relevant works.

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

On Feb. 27, Almunajem Foods signed a non-binding MoU to acquire 51% of the Alwashim Poultry, according to data available with Argaam.

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