Thob Al Aseel explores full acquisition of Al-Tuwaijri under 6-month MoU

Thob Al Aseel signs MoU to buy out Al-Tuwaijri Men’s Accessories

Thob Al Aseel Co. signed on Feb. 9 a non-binding memorandum of understanding (MoU) to acquire 100% of Al-Tuwaijri Men’s Accessories Co., a limited liability firm, according to a statement to Tadawul.

Both parties agreed to commence discussions to study the potential acquisition.

The step comes as part of the company’s expansion plans and strategy to enhance business growth, the statement added.

The MoU was signed on Feb. 9, 2026, with a term of six months from the signing date, renewable upon both parties’ mutual consent.

The MoU key terms include several customary provisions governing confidentiality of information, exclusivity, and restrictions on certain material actions. Completion of the potential transaction remains subject to the two parties reaching agreement on a final, binding agreement.

The financial consideration will be determined based on the results of the financial valuation and due diligence process. The potential transaction will be funded through a capital increase and share issuance and/or the company’s cash flows, or any other means, as agreed upon in the final agreement between the parties.

No financial advisor was appointed at this stage, noting that specialized advisors will be named to complete the due diligence process. Any material developments related to the final acquisition agreement will be announced in due course.

Actions to be undertaken during the MoU term include evaluating the investment opportunity and carrying out the necessary due diligence. There are no related parties involved, the statement added.

The potential transaction is subject to the required regulatory approvals of the competent authorities, in addition to the approval of the company’s extraordinary general meeting (EGM).

The MoU does not constitute a final agreement and does not give rise to any binding obligations to complete the transaction. Any material developments will be disclosed in due course in accordance with the relevant laws and regulations.