Riyadh – Mubasher: Dar Al Markabah for Renting Cars Company (DS Rent) has formally announced the termination of its memorandum of understanding (MoU) regarding the proposed acquisition of Al Sahm Al Thahabi Car Rental Company.

The company informed the Saudi Exchange (Tadawul) that the two parties were unable to reach a final agreement following the completion of necessary due diligence and negotiations, according to a bourse filing.

The latest disclosure serves as a formal update to the company’s previous announcement on 11 August 2025. In the initial filing, DS Rent expressed its intent to acquire 100% of Al Sahm Al Thahabi Car Rental’s shares, describing that the move intended to consolidate DS Rent’s position in the competitive Saudi automotive rental market.

After signing the initial MoU agreement, Dar Almarkabah entered into a phase of comprehensive studies and mutual discussions. This period was dedicated to evaluating the financial, legal, and operational aspects of Al Sahm Al Thahabi Car Rental to determine the viability of the full share purchase.

Such due diligence processes are standard for listed companies on the Tadawul to ensure that any potential acquisition aligns with the strategic interests of the firm and its shareholders.

However, the latest announcement clarifies that these discussions did not culminate in a definitive agreement. The company stated that after the conclusion of the relevant studies and understandings between the two parties, a final consensus on the terms and conditions of the transaction could not be established.

Consequently, both parties have agreed to terminate the MoU and cancel any further work related to the acquisition.

In terms of the financial impact of this decision, the listed DS Rent confirmed that there are no costs associated with the termination of the agreement. The company noted that this development does not result in any change to its financial obligations or reported expenses, as the costs associated with the event section of the disclosure was marked as not applicable.