Alhasoob Trading Company announced the termination of its memorandum of understanding (MoU) with Alkhorayef Group, stating that the parties were unable to reach an agreement. The termination does not impose any obligations on either side.
The MoU, initially signed on December 24, 2023, was intended for the total acquisition of Alkhorayef Group’s subsidiary, Alkhorayef Printing Solutions Company, through the issuance of shares to Alkhorayef Group. The MoU’s term had been extended until December 31, 2024, as disclosed on August 26, 2024.
Alhasoob noted that the decision to terminate the agreement was reached amicably and with mutual understanding.
