Riyadh — Mubasher: Al Taiseer Group Talco Industrial Company announced the extension of a non-binding memorandum of understanding (MoU) to acquire a 60% stake in the capital of Eastern Aluminum Factory.

The extension adds six months to the agreement period to allow for the completion of necessary professional due diligence.

The original MoU was first disclosed on 24 November 2025, with subsequent updates provided on 30 March 2026.

Under the new terms, the extension will commence on 24 August 2026 and is scheduled to conclude on 23 February 2027.

The company stated that there are no immediate financial impacts resulting from this extension. Al Taiseer Group Industrial noted that any further costs or material developments related to the acquisition process will be disclosed in future announcements once the procedures are finalized.

The extension is intended solely to provide sufficient time for the technical and financial review of the target entity.

In the first half (H1) of 2026, the group logged a net profit of SAR 51.10 million, an annual rise of 18.73% from SAR 43.04 million.