Yara completes financial settlement
Malan Steel Products announced the full settlement of the amounts owed to Yara International, amounting to 6.83 million Riyals, after deducting a financial amount of 1.05 million Riyals from the outstanding balance. This action has closed the legal and financial disputes related to the sub-registration purchase agreement. As a result of this payment, the company has been released from any future obligations tied to the contract, and previous guarantees such as promissory notes have been canceled. Additionally, the transaction has resulted in financial gains that will help improve cash flows and reduce liabilities on the financial statements.
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