Al Kuzama inks MoU to acquire 30% stake in TwentyFour Cafe

Logo of Al Kuzama Trading Co.

Al Kuzama Trading Co. signed a non-binding memorandum of understanding (MoU) to acquire a 30% equity stake in TwentyFour Cafe Co., a limited liability company operating in the beverages sector.

In a statement to Tadawul, Al Kuzama said the MoU will remain valid for 60 days, extendable by mutual written agreement. The final decision to proceed with the acquisition will depend on the company’s valuation, completion of financial, legal and operational due diligence, as well as obtaining regulatory approvals.

The company added that the financial impact of the deal will be determined after the necessary approvals are completed and the final share purchase agreement is signed.

Al Kuzama stressed that the MoU does not create any binding legal obligations until the final agreement is signed, noting that further developments will be disclosed in due course.