Saudi Steel Pipe to sell 45-49% equity in private deal
28/05/2018
Argaam
Saudi Steel Pipe Co. has inked a non-binding memorandum of understanding (MoU) with a strategic investor over the latter’s potential acquisition of a minority stake in the company.
The investor is forecast to purchase 45-49 percent of the company’s capital in a private transaction, Saudi Steel Pipe said in a bourse filing.
The MoU will likely expire in August 31, 2018, as both parties agree on a period during which the investor will conduct the due diligence process.
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