Anaam says MoU to acquire stake in Abu Zaid Restaurants expires without agreement

25/07/2022 Argaam

Logo of Anaam International Holding Group

Anaam International Holding Group announced the expiry of the memorandum of understanding (MoU) signed for the possible acquisition of 55% of the shares of Abu Zaid Restaurants Co. Ltd.

 

The MoU expired on July 24, with no agreement reached, the company said in a bourse filing.

 

There is no financial impact as a result of the expiration of the MoU, the statement added.

 

In April, Anaam International inked a non-binding MoU with Abu Zaid Restaurants for the possible acquisition of a 55% stake in the latter, according to data compiled by Argaam.

 

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