Riyadh – Mubasher: Tabuk Agricultural Development on Monday disclosed signing a memorandum of understanding (MoU) with Astra Food Company to acquire Astra’s agriculture business.
The acquisition includes Astra partners and will extend till the end of 2016 or before that depending on the agreement with the other parties, Tabuk said in a filing to the Saudi Stock Exchange (Tadawul).
The MoU is not binding in any way, the company said in a statement, adding that the deal is pending approval by the Capital Market Authority (CMA), Tabuk’s shareholders and other relevant parties.
