Bena signs MoU to buy Alderley’s 40% stake in Saudi branch

21/06/2023 Argaam

Bena signs MoU to buy Alderley’s 40% stake in Saudi branch

Logo of Bena Steel Industries Co.

Bena Steel Industries Co. signed today, June 21, a non-binding memorandum of understanding (MoU) with Alderley PLC to acquire its 40% stake in the Alderley FZE M24 branch, located in Saudi Arabia.

 

The MoU is valid for six months, the company said in a statement to Tadawul.

 

The relevant financial impact will be determined when the final evaluation is completed.

 

There are no related parties to the deal, Bena added.

 

No financial advisor has been yet appointed.

 

Benaa will duly announce any material updates.

 

For More Mergers and Acquisitions

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