L'azurde completes due diligence for Izdiad takeover

27/02/2018 Argaam

 

L'azurde for Jewelry Co. has finalized the due diligence process to buy out Izdiad Commercial Company of Arabia, a jewelry retailer owned by Tamkeen Industrial & Trading Co. (Tamkeen), the company said in bourse filing. 

 

Talks are still ongoing with Tamkeen over the deal, the statement added.

 

Last September, L'azurde’s board of directors approved signing a memorandum of understanding (MoU) with Tamkeen to fully acquire Izdiad Commercial. The MoU was valid for eight weeks from the signing date.

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