GACO extends MoU to set up new entity for 60 days

Al Gassim Investment Holding Co. (GACO) has extended its memorandum of understanding (MoU) for the incorporation of a new closed joint stock company for another 60 days, as of July 30, the firm said in a statement on Tadawul Tuesday.

In May, the company inked a 60-day MoU to establish a new closed joint stock company to produce and sell Saudi dates, with SAR 100 million in capital.

Any further development will be announced in due time, GACO said.