Aslak says regulatory approvals to acquire 30% of A-1 Fence Arabia are afoot

30/10/2022 Argaam

Aslak says regulatory approvals to acquire 30% of A-1 Fence Arabia are afoot

Logo of United Wire Factories Co. (Aslak) 

United Wire Factories Co. (Aslak) said that work is underway to obtain regulatory approvals for acquiring a 30% stake in A-1 Fence Arabia for Industry.

 

Any updates in this regard will be disclosed in a timely manner, the company said in a statement on Tadawul.

 

In August, Aslak signed a share purchase agreement (SPA) for the acquisition of 30% of UAE-based A-1 Fence DMCC Co.’s wholly-owned subsidiary, A-1 Fence Arabia for Industry, according to data compiled by Argaam.

 

The deal is subject to the approval of the General Authority for Competition (GAC) and other relevant regulatory authorities.

 

 

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