Almarai Co. — M&A Activity 2008

Aug 23, 2008

Almarai has entered into a non binding Memorandum of Understanding to acquire 75% of Teeba company in Jordan.

2280 · 23/08/2008 09:03:10 · Announcement #13635 · View on Saudi Exchange

Almarai has entered into a non binding Memorandum of Understanding to acquire 75% of Teeba company in Jordan.

Almarai Company announces that it has signed a non binding Memorandum of Understanding on 19th August 2008 regarding the acquisition of 75% of Teeba Investment for Developed Food Processing Company (Teeba) in Jordan.

The acquisition represents an additional step in the execution of a key element of the Almarai long term strategy to expand geographically beyond it?s core territory of the GCC. The consummation of the transaction is subject to, among other things, the execution of Definitive Agreements, due diligence, as well as receiving all regulatory approvals.Teeba is a player in the fresh dairy & juice sector in Jordan , with its own dairy farm, and a producer and distributor for a wide variety of dairy and juice products in Jordan. We will keep you informed of developments.

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.