SAIC extends MoU to sell Alsalam Aerospace stake

27/05/2019 Argaam

 

Saudi Advanced Industries Co. (SAIC) has extended a memorandum of understanding (MoU) with Saudi Arabian Military Industries Company (SAMI) to sell a 10 percent stake in Alsalam Aerospace for SAR 100 million.

 

The MoU was extended for four months until October 10, 2019, the company said in a statement to Tadawul. 

 

No financial impact will result from this extension, the statement added. 

 

In December, SAIC inked a memorandum of understanding (MoU) with Saudi Arabian Military Industries Company (SAMI) to sell a 10 percent stake in Alsalam Aerospace for SAR 100 million. The MoU was first extended last April.

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