Riyadh – Mubasher: Saudi Advanced Industries Co (SAIC) has extended an initial memorandum of understanding (MoU) over selling a stake in Alsalam Aerospace Industries Company.
This deal extension followed a preliminary purchase proposal on 10 December 2018 regarding SAIC’s 10% equity in Alsalam Aerospace Industries Company, according to a bourse disclosure on Sunday.
SAIC noted that this deal will be effective for six months until 10 April 2020 to proceed with all requirements to reach a final agreement.
The Tadawul-listed company noted that this deal extension will not have a financial impact, yet SAIC will announce any updates in the future.
