JAZADCO, ARTEX extend RESRECO stake sale MoU with Ethraa Holding
21/08/2025
Argaam
RESRECO extends stake sale MoU by 70 days
Jazan Energy and Development Co. (JAZADCO) and ARTEX Industrial Investment Co. announced that Al Reef Sugar Refining Co. (RESRECO) extended, on Aug. 21, the memorandum of understanding (MoU) to sell all shareholders’ stakes to Ethraa Holding Co. for an additional 70 days, until Oct. 30, 2025.
For more news and details on M&As
Any material developments will be announced later, the two companies said in separate statements to Tadawul.
In June, JAZADCO and ARTEX announced that RESRECO signed a binding MoU on all shareholders, including JAZADCO and ARTEX, to sell their entire holding in the company.
The MoU was non-binding on the buyer, Ethraa Holding, data compiled by Argaam showed.
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