BATIC scraps deals to acquire three firms

01/04/2019 Argaam

 

BATIC Investment and Logistics Co. announced the termination of agreements to fully acquire Al Muhaidib Land Transport Co. and Himmah Logistics Co. and buy a minority interest in Arabian Security & Safety Services Co. Ltd (AMNCO).

 

The deals were scrapped upon request of the parties involved, BATIC said in a statement to Tadawul on Sunday.

 

“No financial impact or liabilities are expected from the deal scrap,” the company added.

In April 2018, BATIC signed a deal to take over Al Muhaidib and Himmah, Argaam reported.

 

The preliminary agreements were extended two times before their termination March 31.

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