SASCO signs MoU with Falcom for due diligence on sale, leaseback of company sites

02/05/2021 Argaam

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Saudi Automotive Services Co. (SASCO) signed a non-binding memorandum of understanding (MoU) with Falcom Financial Services on April 29, 2021, to start due diligence examination for a deal to study the options for sale and leaseback of some of its owned sites.

 

The MoU is valid for three months renewal, the firm said in a statement to Tadawul, adding that SASCO will announce any other developments in this regard.

 

The financial impact cannot be determined at this time and will be announced upon completion of the deal, the statement said.

 

There are no related parties.

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