Aslak extends MoU for Al Raeda stake acquisition to December-end
United Wire Factories Co. (Aslak) extended the memorandum of understanding signed with Al-Raeda Industrial Investment Co. for a period of 184 days, ending on December 31, 2025, by a written agreement between the two parties, the company said in a statement to Tadawul.
It added that this comes for the purpose of completing the due diligence audit and regulatory requirements.
According to data available with Argaam, Aslak signed, on Dec. 31, 2024 a non-binding agreement with Al Raeda to acquire 40.0% of the latter's issued shares in return for issuing new shares for the selling shareholders of Al Raeda in Aslak. The valuation of Aslak shares for the purpose of the contemplated transaction was fixed at SAR 29.7 per share.
Aslak's CEO Nabil Al-Amir told Argaam in an interview in January that the company will rely on a thorough financial valuation and fair value comparison to determine the exchange ratio for its potential acquisition of a 40% stake in Al Raeda Industrial Investment. He explained that this acquisition aims to achieve major strategic objectives, notably diversifying income sources by entering new industrial sectors and reducing reliance on a single activity.
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