Almunajem extends MoU to acquire 51% of Alwashim Poultry until September 30 to complete due diligence work

Almunajem foods company announced on Monday that it has agreed with Alwashim Poultry Company to extend a non-binding memorandum of understanding with Alwashim to acquire 51%, with the same terms and conditions as above for another additional period ending 30/9/2023 in order to complete due diligence works.

The Company noted that any material developments regarding this agreement will be announced in due course.

This comes after reference to the announcement of Almunajem Foods Company published on the Tadawul website on 28/2/2023 regarding the signing of a (non-binding) memorandum of understanding with Alwashim Poultry Company to acquire 51%, and has been agreed with Alwashim Poultry Company to extend this memorandum with the same terms and conditions as above for another additional period ending 30/9/2023 in order to complete due diligence works.