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BRIEF-Saudi's Lazurde to acquire Izdiad Commercial Co of Arabia
September 26, 2017 / 1:23 PM / 3 months ago

BRIEF-Saudi's Lazurde to acquire Izdiad Commercial Co of Arabia

Sept 26 (Reuters) - LAZURDE FOR JEWELRY:

* BOARD APPROVES SIGNING OF MOU WITH TAMKEEN INDUSTRIAL & TRADING CO TO ACQUIRE 100 PERCENT STAKE OF IZDIAD COMMERCIAL COMPANY OF ARABIA

* SAYS DURATION FOR MOU IS FOR A PERIOD OF EIGHT WEEKS FROM SIGNING DATE, EXTENDABLE ON PARTIES’ AGREEMENT

* DEAL FINAL PRICE IS SUBJECT TO CERTAIN CONDITIONS AND OUTCOME OF LEGAL, FINANCIAL AND COMMERCIAL DUE DILIGENCES

* SAYS TRANSACTION IS EXPECTED TO BE FINANCED BY BANK CREDIT FACILITIES AND CASH GENERATED FROM OPERATIONAL ACTIVITIES Source:(bit.ly/2fwtWFZ) Further company coverage:

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