SADAFCO says no agreement reached on TADCO stake sale in Horizon Food

28/10/2020 Argaam

The stipulated three-month period of the non-binding memorandum of understanding (MoU) term sheet, which Saudia Dairy and Foodstuff Co. (SADAFCO) signed with Tabuk Agricultural Development Co. (TADCO) to buy the latter’s full stake in Horizon Food Co. Ltd., ended on Oct. 27 without any final agreement or extension, the two firms said in separate statements to Tadawul.

 

There is no financial impact from the development, the companies said, adding that any material development will be announced.

 

TADCO had signed in July the non-binding MoU term sheet to sell its full stake in Horizon Food Co. Ltd., Al Khobar, to SADAFCO, Argaam earlier reported.

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