Al Arabia extends MoU with Multiply Group

Al Arabia extends MoU with Multiply Group, which shall remain in force unless terminated by either party 

Arabian Contracting Services Co. (Al Arabia) agreed on Sept. 2 to extend the duration of the memorandum of understanding (MoU) signed last April with Multiply Group's Media Vertical, which will remain in effect until terminated by either party.

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In a statement to Tadawul, today Sep.3, the company said the extension is subject to either party providing a 30-day prior notice in writing.

All other terms and conditions of the MoU remain unchanged and fully effective.

According to data available with Argaam, Al Arabia signed, on April 2, an MoU with Multiply Group's media vertical for the creation of a joint entity to invest in the global out-of-home advertising sector, strengthen global presence, and support expansion plans into international markets.