Riyadh - Mubasher: Jabal Omar Development announced on Wednesday terminating the memorandum of understanding (MoU) signed with Umm Al Qura Development and Construction Company.
The two parties have agreed upon discussing the matter later, Jabal Omar said in a statement to the Saudi Stock Exchange (Tadawul).
The non-binding MoU was signed on 27 September 2017, and it aimed at merging the two companies.
The agreement expired after six months and was then extended for another six months to 26 September 2018.
