Amiantit expects SAR 27 mln impact from legal dispute

24/02/2016 Argaam

Saudi Arabian Amiantit Co. expects a SAR 27 million financial impact from an ongoing court case involving one of its subsidiaries in Iraq, the company said in a statement to Tadawul.

 

This cost will be booked under provisions, Amiantit said, adding that it would appeal the court’s ruling which valued the subsidiary’s business at SAR 106 million.

 

The next court session will be held on March 6, it added.

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