Riyadh-Mubasher: Saudi Vitrified Clay Pipes Co. (SVCP) on Tuesday extended a memorandum of understanding (MoU) to acquire Arabian Company for Water Pipes (Acwa Pipe) for two months, the company said in a bourse statement.
The company had signed a MoU with Acwa Pipe to acquire the firm in a stock-for-cash deal worth SAR 160 million.
The deal will be financed from bank loans.
