Anaam scraps pact to acquire United Ink stake due to unmet conditions

21/11/2023 Argaam

Anaam scraps pact to acquire United Ink stake due to unmet conditions

Logo of Anaam International Holding Group

Anaam International Holding Group announced canceling the deal to acquire a 69.33% stake in United Ink Production Co. 

 

This was prompted by the inability to meet several regulatory and commercial conditions stipulated in the terms of the agreement. 

 

There are no associated costs with the deal’s cancellation, Anaam said in a statement to Tadawul. 

 

Anaam signed in June a sales and purchase agreement (SPA) to acquire Al Murjan Group Holding Co.’s entire ownership of 69.33% in United Ink Production for SAR 38.8 million, according to Argaam's data. 

 

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