Energy to sign deal for Energy Financial Tech

Azm Saudi Communications and Information Technology Company announced the signing of a non-binding Memorandum of Understanding (MoU) with Azm Financial Technology Company to explore the acquisition of 100% of its shares. The MoU is valid for one year starting from August 1, 2026, and includes procedures for financial, legal, and tax due diligence to assess the viability of the deal. It also specifies the proposed offer value and payment method after the evaluation is completed. The completion of the transaction remains contingent upon the outcomes of the due diligence, regulatory approvals, and approval by the general assemblies, with related parties involved, including senior officials from both companies. The company has appointed "Al-Istithmar Capital" as an independent financial advisor for the transaction.

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