Zoujaj extends MoUs on Guardian RAK, Gulf Guard

20/04/2017 Argaam

The National Company for Glass Industries (Zoujaj) has extended for an additional 120 days its preliminary agreements with Al Zamil Group Holding Co. and Eastern Industrial Investment to acquire their stakes in Guardian Zoujaj International Float Glass (Guardian RAK) and Saudi Guardian International Float Glass Co. (GulfGuard), respectively.

 

Zoujaj will disclose any developments on the deal later on, the glass manufacturer said in a statement to Tadawul on Thursday.

 

In November 2015, the company signed a memorandum of understanding to buy Al Zamil and Eastern’s ten percent stakes in Guardian RAK and Gulf Guard, Argaam earlier reported.

 

The MoU was extended last August for six months by Zoujaj to complete all procedures related to the deals. 

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