GO clarifies terms for acquiring 51% stake in eJad Tech

Logo of Etihad Atheeb Telecommunication Co. (GO)

Etihad Atheeb Telecommunication Co. (GO) announced that the completion of the deal to acquire a 51% ownership stake in eJad Tech Co., at a value of SAR 86.7 million, is subject to a bundle of conditions, according to a statement on Tadawul,

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These conditions included obtaining the ordinary general assembly’s approval by the company’s bylaws, a no-objection to the acquisition deal from the General Authority for Competition (GAC) and other necessary approvals related to the acquisition.

According to data available with Argaam, GO signed, on Sept. 14, a binding memorandum of understanding (MoU) to acquire a 51% equity stake in eJad Tech Co. for SAR 86.7 million.