Alhasoob, Alkhorayef terminate MoU for APS acquisition

10:15 AM (Mecca time) Argaam
Logo ofAlhasoob Co.

Logo of Alhasoob Co. 

Alhasoob Co. and Alkhorayef Group ended the memorandum of understanding (MoU) for the acquisition of Alkhorayef Printing Solutions Co. (APS) without reaching an agreement.

 

The company added in a statement on Tadawul that the MoU was terminated without any obligation on either party.

 

For More Mergers and Acquisitions

 

In December 2023, Alhasoob signed a non-binding MoU with Alkhorayef Group to acquire its 100% owned subsidiary, APS, in exchange for issuing new shares for Alkhorayef Group, Argaam reported.

 

Last August, Alhasoob extended the MoU to study the acquisition carefully.

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