“Tihama” extends its deal with “WBP” to establish a new company in Saudi Arabia

Tihama Advertising and Public Relations Company announced the extension of its agreement with the WPP Group for the purpose of establishing a new company in Saudi Arabia under the name ACG Saudi Arabia.

She explained in a statement on Tadawul that the extension agreement is for a period of 6 months, ending on December 31, 2024, upon completion of the transfer of legal ownership, including the completion of the required regulatory approvals.

It indicated that any financial impact resulting from the transaction based on the assets and liabilities on that date will be recorded upon completion, and any potential impact cannot be estimated reliably currently.