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Ratel delays Fazwan stake deal extension
Retal Urban Development Company has decided to extend the deadline for the share swap agreement with Al-Fozan Holding Company until December 31, 2026, in order to give the parties more time to complete the necessary conditions for finalizing the deal. The transaction involves Retal's acquisition of 14.25 million shares (47.5% of Ajdan's capital) through the issuance of new shares in exchange for transferring ownership of the company, as part of its expansion strategy in the real estate sector. The extension is to facilitate the completion of regulatory approvals, approval at the general assembly, and the due diligence procedures, without incurring additional costs or immediate effects on the financial results.
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