The boards of directors of Arabian Centres Co. (Cenomi Centers) and Fawaz Abdulaziz Alhokair Co. (Cenomi Retail) agreed to end their discussions on a merger, until further notice.
In separate statements to Tadawul, the companies stressed their belief in the strategic benefits of the potential merger. However, the boards see that the current circumstances and timing are not appropriate for merging the businesses
The two companies emphasized their commitment to participate in transactions that would benefit all involved parties, noting that they incurred some consultation costs in connection with the merger discussions.
In May, the companies said they were in initial talks on a potential merger, Argaam earlier reported.
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