Anaam says MoU to acquire stake in Abu Zaid Restaurants expires without agreement

25/07/2022 Argaam
Logo ofAnaam International Holding Group

Logo of Anaam International Holding Group

Anaam International Holding Group announced the expiry of the memorandum of understanding (MoU) signed for the possible acquisition of 55% of the shares of Abu Zaid Restaurants Co. Ltd.

 

The MoU expired on July 24, with no agreement reached, the company said in a bourse filing.

 

There is no financial impact as a result of the expiration of the MoU, the statement added.

 

In April, Anaam International inked a non-binding MoU with Abu Zaid Restaurants for the possible acquisition of a 55% stake in the latter, according to data compiled by Argaam.

 

For More Mergers and Acquisitions

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