Naseej appoints Wasatah Capital to advise on Etmam Arabia acquisition

Naseej International Trading Co. appointed Wasatah Capital as financial advisor on the planned acquisition of Etmam Arabia Construction Co., according to a statement to Tadawul today, May 20.

The company signed, on March 28, a non-binding memorandum of understanding (MoU) with Etmam Arabia to acquire its shares, upon reaching a final agreement between the two parties, according to Argaam's data.

The takeover will come in exchange for the issuance of new shares by Naseej, based on the fair valuation of Etmam Arabia’s shares, including their rights and obligations.