Raoom pens non-binding MoU to acquire Qassim Corrugated Box Factory

Logo of Raoom Trading Co.

Raoom Trading Co. signed a non-binding memorandum of understanding (MoU) to fully acquire Qassim Corrugated Box Factory Co.

According to a filing to Tadawul, the company said the MoU will be effective for 120 days from the signing date and may be renewed with the consent of the two parties.

Wasatah Capital was appointed as the financial advisor on the proposed transaction.

In case of approving the deal, the implementation mechanism includes the issuance of new shares for the shareholders of Qassim Corrugated Box Factory in Raoom. The final agreements will be signed after completing the necessary studies and due diligence.

The transaction might involve related parties, and such details will be announced in due course.

The deal is subject to the satisfactory completion of financial, tax and legal due diligence. It also pending obtaining the regulatory approvals from the competent authorities and the extraordinary general meeting. 

Qassim Corrugated Box Factory is a one-person limited liability company specialized in producing many types of corrugated carton for some sectors, including the food and beverage, industrial, services and logistics. The company's annual revenues exceed SAR 90 million.

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