April 10, 2018 / 6:58 AM / 5 months ago

BRIEF-Ash Sharqiyah Development Signs MOU To Acquire Real Estate Properties

April 10 (Reuters) - ASH SHARQIYAH DEVELOPMENT CO:

* SIGNS MOU WITH OMAR SALEH BABUKER TO ACQUIRE TWO FULLY OWNED INCOME-GENERATING REAL ESTATE PROPERTIES IN RIYADH

* IN ADDITION TO BABUKER SUPERMARKET CHAIN BY INCREASING CO’S CAPITAL, ISSUING SHARES WITH VALUE OF ASSETS TO BE ACQUIRED IN FAVOR OF OMAR SALEH BABUKER

* TERMS OF MEMORANDUM EXPIRES AFTER ONE YEAR FROM SIGNATURE DATE WITH OPTION TO EXTEND BY MUTUAL AGREEMENT

* TARGET IS TO COMPLETE THE TRANSACTION BEFORE OCT 30

* HAS APPOINTED ALDUKHEIL FINANCIAL GROUP AS FINANCIAL ADVISOR FOR TRANSACTION Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below