Riyadh-Mubasher: The National Company for Glass Industries (Zoujaj) said it signed on Sunday a memorandum of understanding (MoU) with Al Zamil Group Holding Co to acquire its 10% stake in Guardian Zoujaj International Float Glass (Guardian RAK).
Zoujaj also inked an agreement with and Eastern Industrial Investment Co. to purchase a 10% stake in Saudi Guardian International Float Glass Co. (GulfGuard).
The accords will be effective for six months, the company said in a bourse statement, adding that a financial advisor will be appointed to facilitate the negotiations.
