L'Azurde for Jewelry Co has extended the exclusivity period of its memorandum of understanding (MoU) with Tamkeen Industrial & Trading Co. to fully acquire jewelry retailer Izdiad Commercial Co., the company said in a bourse statement.

 

The MoU, which was signed in September this year, has been extended until the end of February 2018 to finalize the financial, legal, and commercial due diligence.

 

Tadawul-listed L’Azurde earlier said it plans to finance the acquisition through bank credit facilities and cash generated from operational activities. 

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