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News Southern Province Cement and Yanbu Cement to explore merger

Southern Province Cement and Yanbu Cement to explore merger

Written by Global Cement staff 24 June 2024
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Saudi Arabia: Southern Province Cement and Yanbu Cement have signed a non-binding memorandum of understanding to evaluate a potential merger. The due diligence process will assess various aspects including operational, technical, financial, legal and actuarial factors, according to Mubasher.

The memorandum was signed on 23 June 2024 and is set to expire in 12 months unless a merger agreement is reached beforehand. The feasibility of the merger will depend on agreement on final terms, regulatory approvals and endorsements from both companies' general assemblies.

Last modified on 26 June 2024
Published in Global Cement News
Tagged under
  • Saudi Arabia
  • Southern Province Cement
  • Southern Province Cement
  • Yanbu Cement
  • Merger
  • GCW665
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