Theeb ends MoU for investment in smart technology firm

Theeb ends MoU with Riyadah for Evaluation after the two parties failed to reach an agreement

Theeb Rent a Car Co. decided on Jan. 27 to terminate the preliminary non-binding memorandum of understanding (MoU) with Riyadah for Evaluation Co., a limited liability company, after the two parties failed to reach an agreement.

The company confirmed in a statement on Tadawul that the termination does not result in any financial liabilities on the company, and that the decision has no impact on its financial position or operating results.

In September 2025, Theeb signed a preliminary non-binding MoU with Riyadah for Evaluation for investment purposes. It specializes in smart technology solutions for managing rental operations and vehicle fleets.