Riyadh – Mubasher: Saudi Arabia-based Arabian Cement ended initial discussions with Al Safwa Cement about their merger.
The merger between the two firms will not be implemented currently and there is not financial impact on Arabian Cement, according to a statement on Sunday to the Saudi Stock Exchange (Tadawul).
In October, Arabian Cement said it had been in conversation with Al Safwa Cement about potential merger between the two companies, then the company announced extension of merger discussions for 14 days ended on 21 December.
By 10:17 am KSA time, Arabian Cement's stock shed 0.60% to SAR 34.55.
