Molan Steel Co. Announces the Execution of Memorandum of Understanding with Yara International Limited Co. Acquiring To acquire 100% of Mayar International industry.
Molan Steel Co. Announces the Execution of Memorandum of Understanding with Yara International Limited Co. Acquiring to acquire 100% of Mayar International industry.
Date of signing the Memorandum of Understanding
2024-11-18 Corresponding to 1446-05-16
Memorandum Duration
Twelve Gregorian months from the date of signing the memorandum.
Name of the Counterparty
Yara International Limited Co.
Name of Financial Advisor of Each Party
No financial advisor has been appointed at this stage and a competent advisor will be appointed to complete the due diligence process, and any important developments regarding the definitive acquisition agreement will be announced in the future.
Major Terms in the Memorandum
The financial consideration for the transaction depends on the results of the financial evaluation and due diligence, and the transaction will be financed from the financial resources and cash flows of Molan Steel Co.
Related Parties
.None
Actions to be Taken by the Company during the Memorandum’s Duration
The company will follow all relevant regulatory procedures to complete the negotiations and reach the final acquisition agreement.
Approvals
The acquisition will be subject to a number of regulatory approvals including relevant authorities in the Kingdom of Saudi Arabia and any other approvals necessary to complete the acquisition.
Additional Information
. None
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