Riyadh – Mubasher: Anaam International Holding Group signed a non-binding memorandum of understanding (MoU) with Saudi Wasit Establishment on 4 April to acquire 51% of Wasit Factory.
The potential acquisition aims to diversify the business of Anaam International while utilizing the opportunities available in the entertainment and tourism sector, according to a disclosure to the Saudi Stock Exchange (Tadawul) on Monday.
The MoU will be effective for 60 days starting the signing date.
Both parties agreed that the transaction value when reaching a final agreement for the potential acquisition would be paid in cash.
Anaam International also inked a non-binding MoU in late March to fully acquire Al Takamul National Agriculture Company.
