Tabuk Agricultural extends acquisition MoU for Astra Farms

30/03/2017 Argaam

Tabuk Agricultural Development Co. (TADCO) has extended on Thursday a memorandum of understanding (MoU) to buy ASTRA Food Co.’s agriculture business for six more months until Sept. 30, 2017, the company said in a statement to Tadawul Thursday.

 

The value of the deal was not disclosed.

 

TADCO extended the MoU, which was supposed to expire on March 31, to be able to complete the feasibility study and the required due diligence.

 

The Tadawul-listed firm had signed in May 2016 an agreement with ASTRA Food to acquire its agricultural division, ASTRA Farms, and the related transport services under a share swap deal, Argaam earlier reported. 

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