Tihama extends agreement with WPP to form new firm till June 2022

27/12/2021 Argaam

Logo of Tihama Advertising and Public Relations Co.

Tihama Advertising and Public Relations Co. signed, on Dec. 26, an extension for the period of the agreement with WPP plc to establish a new company in Saudi Arabia under the name ICG Saudi Arabia.

 

The company said in a bourse filing that the extension will also include the completion of transferring legal ownership and obtaining all other required regulatory approvals before June 30, 2022. 

 

It is currently not possible to determine the expected completion date and shareholders will be kept informed of all due developments, Tihama said. 

 

According to data compiled by Argaam, Tihama entered into an agreement on June 30, with WPP plc to create a new joint venture called ICG Saudi Arabia.

 

The agreement is subject to completion of legal ownership transfer and all other required regulatory approvals before Dec. 31, 2021. 

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