Barloworld Logistics has asked to extend a letter of intent (LoI) signed last November with United International Transportation Co. (Budget Saudi) until May 31, 2016, the car rental company said a statement to Tadawul.
Budget said negotiations are still ongoing between the companies and a final contract has not been finalized.
Barloworld Logistics expressed its interest in hiring Budget’s subsidiary Rahal Ltd as its agent in the country for a six-month period. It also ruled out plans to set up a company in the kingdom.
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