Abdulaziz and Mansour Ibrahim Albabtin Co. signed a new non-binding Memorandum of Understanding to acquire unknown minority stake in Integrated Business Company (Limited Liability Company).

Abdulaziz and Mansour Ibrahim Albabtin Co. (SASE:9549) signed a new non-binding Memorandum of Understanding to acquire unknown minority stake in Integrated Business Company (Limited Liability Company) on August 1, 2023. The two parties also agreed that the percentage of acquisition and the value of the final deal will be determined after the completion of the due diligence work.

The acquisition process is conditional on the completion of verification and due diligence processes in a manner that is compatible with the requirements of all Related parties, on condition of agreement on the final terms and conditions, and on condition of obtaining the statutory approvals of the competent authorities.