Please wait...
GulfBase Live Support
- Dollar edges lower after US credit downgrade, Aussie pares losses before RBA
- Asia shares slip on mixed China data, drop in Wall St futures
- Hyundai Motor Manufacturing Middle East breaks ground for Saudi plant
- Qualcomm to set up Global Engineering Center in Abu Dhabi
- Saudi startup Ejari plans to scale as demand grows
- Gulf International Bank closes debut $500 million islamic syndicated financing facility
- Bahrain All Share Index closes higher
- Oman Investment Authority achieves 21% growth in asset value
- India's forex reserves hit 7-month high of $690.6 billion
- Saudi entertainment industry set to power economic diversification
08/10/2017 11:35 AST
National Agricultural Development Company (NADEC) is pleased to announce that it has entered into a non-binding memorandum of understanding (the MOU) on 17/1/1439H corresponding to 7/10/2017G with Al Safi Danone Company Limited (ASD).
The purpose of the MOU is to commence discussions to study the possibility of a business combination of NADEC and ASD (the Proposed Transaction) by way of the acquisition of all of the shares of ASD by NADEC in consideration for the issuance of new shares in NADEC to ASDs existing shareholders, to be implemented by way of a capital increase in NADEC.
Subject to confirmation during the due diligence phase, at completion of the Proposed Transaction, the current ASD shareholders will, in aggregate, own 38.75% of NADECs pro forma issued share capital.
The term of the MOU is for a period of six (6) months. The parties have agreed on an exclusivity period during which they will conduct financial, commercial and legal due diligence.
The Proposed Transaction will be subject to a number of conditions including, without limitation, entry into definitive agreements, NADECs EGM approval and ASDs shareholder approvals and obtaining the necessary approvals from the relevant government authorities.
The entry into these discussions does not guarantee that the Proposed Transaction will be completed.
NADEC will announce any material developments pertaining to the Proposed Transaction in due course.
Tadawul
30/03/2018
Saudi Arabia-based Al Safi Holding, a unit of Al Faisaliah Group, has sold its shares in Al Safi Danone Company (ASD), a producer of dairy and juice products, to National Agricultural Development Co
Trade Arabia
26/03/2018
Nadec, the Saudi food and beverage company in which the kingdom's sovereign wealth fund has a 20 per cent stake, agreed to buy rival Al Safi Danone in a deal that will be funded through a 536 million
The National
09/10/2017
National Agricultural Development Company (NADEC) and Al Safi Danone Company (ASD) have entered into a non-binding agreement to explore a possible merger.
"The term of the MOU [Memorandum of
Arab News
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| FADECO | 73.80 | 0.00 (0.00 |
| ALMARAI | 51.40 | -0.50 (-0.97 |
| SAVOLAGROUP | 26.15 | -0.80 (-2.97 |
| SADAFCO | 292.80 | -5.20 (-1.75 |
| SFICO | 104.60 | -1.40 (-1.33 |
19/05/2025
The US has pledged up to $60 billion in investments for UAE energy projects, reinforcing a strategic partnership announced during the UAE-US business dialogue with President Donald Trump.
Khaleej Times
16/05/2025
Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, has delivered a 3.8% year-on-year revenue growth, reaching AE
Trade Arabia
16/05/2025
Abraj Energy Services has signed a contract with BP Oman to provide a drilling rig for operations in Block 61, with the rig expected to become operational in the fourth quarter of 2025.
The
Muscat Daily
16/05/2025
Commercial Bank, a leader in innovative digital banking solutions, has unveiled its all-new Corporate Mobile Banking App, setting a new standard for business banking in the region.
This stat
Gulf Times
16/05/2025
Emirates NBD is rolling out a new AI-driven solution to strengthen its compliance checks on payments and trade transactions, as part of a wider effort to improve safety, speed, and transparency in fi
Gulfnews
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia