Almarai Co. — M&A Activity 2006

Nov 26, 2006

Almarai entered into a Memorandum of Understanding to acquire 75% of Western Bakeries Company Limited

2280 · 26/11/2006 15:37:31 · Announcement #9712 · View on Saudi Exchange

Almarai entered into a Memorandum of Understanding to acquire 75% of Western Bakeries Company Limited

Almarai Company to announces that it signed today (26 November 2006) a Memorandum of Understanding with the authorized shareholders of Western Bakeries Company Limited and International Baking Services, regarding the acquisition of 75% of the shares of the said companies by Almarai in exchange of the issuance of new Almarai shares. The consummation of the transaction is subject among other things to, the execution of definitive Agreement, satisfaction of agreed all basic terms and stipulations, due diligence, approval of Almarai Board and General Assembly as well as receiving all regulatory approvals.

Western Bakeries is a producer and distributor for a wide variety of baked food products under the brand name L?Usine through Saudi Arabia

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