Mubarrad Studies Acquiring a Unit of Al Nasser Co.

Saudi Transport and Investment Co. (Mubarrad) announced signing an agreement with Aljazira Capital, 23/01/2012, for 60 days to assess the land transport sector business of Al Nasser Commercial Investment, the company said in a filing to Tadawul.

 The company will also conduct the required legal and financial due diligence reports. Mubarrad had signed a Memorandum of Understanding (MoU) with Al Nasser Group for a duration of 120 days, effective on 27/12/2011. Under the MoU, Al Nasser Co. gave Mubarrad access to all information relevant to evaluating its transport unit, as Mubarrad offered to acquire it, according to the statement.