Riyadh – Mubasher: Saudi Vitrified Clay Pipes Company (SVCP) signed yesterday an agreement to buy entire stake in Arabian Company for Water Pipe Industry Ltd. (Acwa Pipe).
The stake transfer will take place within 120 days from the date of signing, according to a bourse filing released on Monday.
SVCP said that the signing came after completing the due diligence examination, and it will pay the deal’s value amounting to SAR 160 million ($42.67 million) within two years from the signing date.
