Riyadh-Mubasher: The National Company for Glass Industries (Zoujaj) has signed an initial agreement with the Eastern Company for Industrial Investments to acquire its 10% stake in Gulf Guard, and Zamil Group to purchase its 10% equity in Guardian RAK, the company said in a bourse statement.
Upon completing the deal, Zoujaj’s stakes in Gulf Guard and Guardian RAK will rise to 55% from 45%.
The maximum purchase value reaches SAR 12 million and 2.9 million shares to be issued for sellers in Zoujaj, the statement added.
