Logo of Raoom Trading Co.
Raoom Trading Co. announced that it reached today, Dec. 11, an agreement with Qassim Corrugated Box Factory Co. to cancel the non-binding memorandum of understanding (MoU) that aims to fully acquire the latter's shares.
This came after the two parties failed to reach an agreement, Raoom said in a Tadawul statement.
In March, the firm signed a non-binding MoU to fully acquire Qassim Corrugated Box Factory – wholly-owned by Al-Arifi Trading, Industry and Contracting Co. - through the issuance of new Raoom shares to the owners of Qassim Corrugated Box Factory, according to data available with Argaam.
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