Mubarrad extends MOUs with Al-Bakri to acquire, sell stakes

11/02/2016 Argaam

Saudi Transport and Investment Co. (Mubarrad) extended on Thursday two memos of understanding with Abdulkader Al Bakri & Sons Holding Co. (Al Bakri) for another 90 days to conduct due diligence, Mubarrad said in a statement Thursday to Tadawul.

 

The first MoU is related to the sale of Mubarrad’s interest in Arabian Security & Safety Services Co. (AMNCO) to Al Bakri. The second is related to Mubarrad’s acquisition of Al Bakri’s stake in International Seas Co.

 

The company had earlier extended both memos, which were signed last September, for one month starting from Dec. 12, 2015, according to data compiled by Argaam. 

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