Anaam extends MoU to buy 51% stake in Saudi Wasit Establishment subsidiary

03/06/2021 Argaam

Anaam International Holding Group extended the non-binding memorandum of understanding (MoU) signed with Saudi Wasit Establishment for an additional 30 days, starting June 3, 2021 – which is the end day for the original MoU period.

 

The extension aims to allow the completion of due diligence checks and other preparatory work for the implementation of the deal agreements, the firm said in a statement to Tadawul.

 

Any further developments regarding the agreement will be announced in due course.

 

On April 4, 2021, Anaam signed the non-binding MoU for the potential acquisition of 51% stake in Saudi Wasit Factory for Entertainment & Beauty Systems, Argaam reported.

 

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