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Talco agrees to stake in Eastern Aluminum
Al-Taisir Talco Industrial Group has decided to extend the non-binding Memorandum of Understanding with Eastern Manufacturing Company for aluminum withdrawal by six months, in order to complete the necessary inspection and due diligence processes for the acquisition of a 60% stake in the target company. This extension aims to provide sufficient time to finalize financial and operational evaluations and to ensure compliance with legal and technical standards. The delay was caused by additional procedures and supplementary audits, without incurring extra costs for either party or having a direct impact on the financial statements. The completion of the deal remains contingent upon the results of the final inspections and regulatory approval from the relevant authorities in Saudi Arabia.
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