BinDawood Holding Co. — M&A Activity 2022

Jul 24, 2022

BinDawood Holding Company, through its wholly owned subsidiary, Future Retail for Information Technology Company, announces it has entered into exclusive negotiations for the potential acquisition of a majority stake in "Ykone", a subsidiary of TF1 group, a French leader in content production, publishing and distribution.

4161 · 24/07/2022 08:01:52 · Announcement #69325 · View on Saudi Exchange

BinDawood Holding Company, through its wholly owned subsidiary, Future Retail for Information Technology Company, announces it has entered into exclusive negotiations for the potential acquisition of a majority stake in "Ykone", a subsidiary of TF1 group, a French leader in content production, publishing and distribution.

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Announcement Detail

BinDawood Holding Company (“BDH”) through its wholly owned subsidiary, Future Retail for Information Technology Company (Future Technology Retail (“FTR”), a technology and retail solutions investment company, announces it has entered into exclusive negotiations for the potential acquisition of a majority stake in Ykone, a subsidiary of TF1 group, a French leader in content production, publishing and distribution. The potential transaction will be undertaken through a French subsidiary company to be incorporated by FTR.

"Ykone" is a profitable international influencer marketing agency, with a proprietary technology offering, focused on travel, beauty, fashion and luxury brands, with a presence in Europe, Asia, the US and the Middle East. It provides end to end services on strategy, talent management, content production and monitoring to more than 200 leading brands across the globe including the MENA region.

If and when an acquisition agreement is reached following negotiations, the acquisition parties will move forward with the regulatory and legal process to complete the acquisition procedures.

Respective shareholders will be informed of any future developments in this regard. Attached Documents  

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.