Jabal Omar ends MoU on merger with Umm Al Qura

26/09/2018 Argaam

 

Jabal Omar Development Co. terminated its non-binding memorandum of understanding (MoU) with Umm Al Qura Development and Construction on a proposed merger, the company said in a statement to Tadawul on Wednesday. 

 

Both parties agreed to postpone merger talks. 

 

Jabal Omar will announce any relevant updates later on, the statement added. 

 

Last March, the real estate developer extended its memorandum of MoU exploring a potential merger with Umm Al Qura Development and Construction for another six months until Sept. 26, Argaam reported. 

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