Saudi Steel Pipe extends MoU with strategic investor for one month

29/08/2018 Argaam Special

 

Saudi Steel Pipe Co. has extended a non-binding memorandum of understanding (MoU) with a strategic investor over the latter’s potential acquisition of a minority stake in the company for a month until September 30, 2018.

 

The MoU was signed on May 27, 2018, the Saudi firm said in a bourse filing.

 

The MoU was to expire on August 31, 2018, as both parties agree on a period during which the investor will conduct the due diligence process.

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