10 hours ago
Yanbu Cement, Southern Cement extend MoU on potential merger
Yanbu Cement Co. and Southern Province Cement Co. have agreed to extend the non-binding memorandum of understanding (MoU) for an additional three months as of June 23, 2025, in order to consider a potential share swap and to carry out the due diligence process. This will include the operating, technical, financial, legal, and actuarial aspects, according to a statement to Tadawul.
There are no additional costs associated with the MoU extension, Yanbu Cement said, noting that it will disclose any material developments in due course in accordance with relevant laws and regulations.
Yanbu Cement and Southern Cement signed on June 23, a non-binding MoU to evaluate the feasibility of merging the two companies, data compiled with Argaam showed.
