Tabuk Agricultural to decide on acquisition of Astra Food by October-end

Tabuk Agricultural Development Co. (TADCO) said the results of negotiations held on buying Astra Food Co.’s agriculture business will be revealed before October 31, the company said in a statement to Tadawul. 

In December, TADCO extended a memorandum of understanding (MoU) to buy Astra Food Co.’s agriculture business until Dec. 31, 2017 to complete negotiations between the two parties. The deal was initially scheduled to expire on September 30.

The Tadawul-listed firm had signed in May 2016 an agreement with Astra Food to acquire its agricultural division, Astra Farms, and the related transport services under a share swap deal, Argaam earlier reported.