Aslak extends MoU for potential acquisition of Al-Raeda Industrial stake

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United Wire Factories Co. (Aslak) extended a memorandum of understanding (MoU) for the potential acquisition of a stake in Al-Raeda Industrial Investment Co. for an additional 55 days until Dec. 31, 2024.

 

According to a statement to Tadawul, the MoU is renewable under a written agreement between the two parties.

 

For More Mergers and Acquisitions

 

In November 2023, Aslak signed the MoU with Al-Raeda Industrial for the potential stake acquisition, subject to a final agreement between the two parties.

 

In May 2024, the MoU was extended for 180 days, according to data compiled by Argaam.

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