Arabian Cement, Al Safwa cancel merger talks

Preliminary merger talks between Arabian Cement Co. and Al Safwa Cement Co. have been terminated and the deal will not be completed at this time due to lack of agreement, Arabian Cement said in a statement.

The decision to end talks won’t have a financial impact on Arabian Cement’s financials, the company added.

In October, Arabian Cement started merger talks with Al Safwa Cement Co. and signed an exclusivity agreement for the discussions, Argaam reported.

The two companies had signed a one-month exclusivity agreement that stopped them from discussing possible mergers with any other parties. The agreement was also extended for another period.