Logo of Saudi Advanced Industries Co. (SAIC)
Saudi Advanced Industries Co. (SAIC) will not extend a non-binding memorandum of understanding (MoU) signed with Educational Guide for Training and Education Co. for the potential acquisition of at least a 30% stake in the latter, according to a bourse filing today, June 22.
The MoU expires on June 30, 2022.
There is no relevant financial impact due to the non-renewal of the MoU, the statement added.
SAIC earier signed a non-binding MoU with Educational Guide for the possible acquisition of no less than 30% of the latter, Argaam previously reported.
The MoU was effective from Jan. 1. 2022, and valid for a period of six months
Comments
{{DisplayName}}
{{ElapsedTime}}