SAIC to not extend MoU with Educational Guide for Training for possible stake acquisition

22/06/2022 Argaam

Logo of Saudi Advanced Industries Co. (SAIC)

Saudi Advanced Industries Co. (SAIC) will not extend a non-binding memorandum of understanding (MoU) signed with Educational Guide for Training and Education Co. for the potential acquisition of at least a 30% stake in the latter, according to a bourse filing today, June 22.

 

The MoU expires on June 30, 2022.

 

There is no relevant financial impact due to the non-renewal of the MoU, the statement added.

 

SAIC earier signed a non-binding MoU with Educational Guide for the possible acquisition of no less than 30% of the latter, Argaam previously reported.

 

The MoU was effective from Jan. 1. 2022, and valid for a period of six months

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