Aslak extends MoU to buy stake in Thamar Nutrition for third time

Logo of United Wires Factory Co. (Aslak)

United Wires Factory 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 30 days.

The MoU will be renewed upon mutual agreement of both parties, Aslak said in a statement to Tadawul.

In October 2021, the wire manufacturer signed a non-binding MoU with Thamar Nutrition to potentially acquire a stake in the latter, upon reaching a final agreement between the two parties, Argaam earlier reported.

The initial agreement was valid for 90 days from the signing date, subject to renewal upon the approval of both parties. It was extended for 60 days in January and 45 days in March.

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