Aslak inks SPA to buy 30% of A-1 Fence Arabia

18/08/2022 Argaam

Aslak products

United Wire Factories Co. (Aslak) announced today, Aug. 18, the signing of a share purchase agreement (SPA) for the acquisition of 30% of UAE-based A-1 Fence DMCC Co.’s wholly-owned subsidiary, A-1 Fence Arabia for Industry. 

 

In a bourse filing, Aslak said the deal is subject to several conditions that must be met by Oct. 30, 2022.

 

Its completion is also still conditional on the approval of the General Authority for Competition (GAC) and other relevant regulatory authorities.

 

There are no related parties, the cable producer added.

 

Last June, Aslak announced extending for 90 days a non-binding memorandum of understanding (MoU) with A-1 Fence DMCC Co. for the possible acquisition of A-1 Fence Arabia for Industry. The MoU was first signed in Feb. 2022, Argaam previously reported.

 

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