Riyadh – Mubasher: United Wire Factories Company (Aslak) has renewed its non-binding memorandum of understanding (MoU) with Themar for Food and Catering Company to acquire a stake in the catering firm.

The two parties extended the deal for 45 days that can be renewed upon their approval, according to a recent bourse disclosure.

In October 2021, the wire manufacturer had signed a non-binding MoU with Thamar to potentially acquire a stake in the latter.

It is worth noting that the initial agreement was valid for 90 days until January 2022, followed by a 60-day renewable MoU.