SVCP extends agreement to acquire 75% in Advanced Piping for 90 days

18/05/2020 Argaam

Saudi Vitrified Clay Pipes Co. (SVCP) extended the terms implementation period of the agreement to acquire 75% of Advanced Piping Solutions Co., for additional 90 days, the company said in a bourse statement.

 

Both parties signed a written extension of the agreement implementation period due to the Coronavirus outbreak.

 

Any updates regarding this matter will be announced on Tadawul, the statement added.

 

In April, SVCP acquired a 75% stake of Advanced Piping Solutions for SAR 56.25 million, according to data compiled by Argaam.

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