Arabian Pipes extends timeline for financial advisor on Welspun deal

Regarding the agreement signed by the Arabian Pipes Company (APC) to buy all or part of the assets of Welspun Middle East Pipe and Welspun Middle East Pipe Coating, and reference to the announcement on July 3, 2012 on hiring Falcom Financial Services for preparation of financial studies and assessment of deal value within two months of the date of signing of the agreement, APC announces that the said timeline has been extended by six more weeks. Further developments will be announced in due course.