Al-Baha extends MoU to acquire Elegant Centers

Logo of Al-Baha Investment and Development Co.

Al-Baha Investment and Development Co. extended the memorandum of understanding (MoU) signed to acquire Elegant Centers Ltd. Co. by 30 days upon mutual agreement with the latter’s shareholders, according to a Tadawul statement.

For More Mergers and Acquisitions

Last May, Al-Baha signed a non-binding MoU with the minority shareholders of Elegant Centers who own 750,000 shares, or 13.04% of the company and its subsidiary, Ishraqa Regional for Real Estate Development & Investment Co., Argaam earlier reported.

The MoU has come into effect since the signing date and is valid for 60 days.