Aslak extends MoU for potential stake acquisition in Thamar Nutrition

Logo of United Wire Factories Co.

United Wire Factories Co. (Aslak) agreed with Thamar Nutrition and Subsistence Co. to extend the non-binding memorandum of understanding (MoU) signed earlier to potentially acquire a stake in the latter, for a period of 60 days. 

In a bourse filing, the company said that the MoU can be extended for other periods according to a written agreement between the two parties, for the purpose of completing the due diligence audit. 

According to data compiled by Argaam, Aslak signed, on Oct. 21, 2021, a MoU with Thamar Nutrition to potentially acquire a stake in the latter, upon reaching a final agreement between the two parties. 

The MoU will be valid for 90 days from the signing date, subject to renewal upon the approval of both parties. 

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