AFG International Co. — M&A Activity 2012

Jul 24, 2012

Fawaz A.Alhokair & Co announces the signing of SPA to purchase NESK Group for trading project LLC ( Al Jedaie )

4240 · 24/07/2012 08:38:44 · Announcement #26796 · View on Saudi Exchange

Fawaz A.Alhokair & Co announces the signing of SPA to purchase NESK Group for trading project LLC ( Al Jedaie )

Following to the company announcement on Tadawul dated April 22, 2012 Fawaz Al Hokair &Co is pleased to announce that on Monday July 23, 2012 the company has signed the Share Purchase Agreement (SPA) to buy NESK Group for trading project LLC ( Al Jedaie ) for an amount of SAR 730 million after completing the financial and legal due diligence. The parties in the SPA will complete the share transfer after sellers complete the conditions precedent stated in the agreement.

NESK operates a number of leading brands in Saudi Arabia market like Mango, Stradivarius, Okaidi, Jerry Weber, Woman Secret and others. The acquisition will be finance mainly via a long term loan. and will be announced later about the details of the loan.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.