Logo design of Najran Cement Co.
Najran Cement Co. revealed completion of the non-binding memorandum of understanding (MoU) duration to buy a minority stake in AYAN Company for Commerce and Industry, without reaching an arrangement.
According to a declaration to Tadawulthe door to settlements stays open with AYAN. If any contract is reached or if there are any advancements in this regard, they will be revealed in due course.
The declaration explained that there is no monetary effect to the expiration of the MoU duration.
According to information offered on ArgaamNajran Cement signed the MoU with AYAN, under which the cement manufacturer will study the expediency of buying a minority stake of 20-25% in among the AYAN’s subsidiaries that runs in the structure products producing.