Kingdom Holding Co. — M&A Activity 2011

Jan 31, 2011

Kingdom Holding Company Announces a Non-Binding Offer And A Preliminary Expression That it Has Sent to the Board of Directors of Mobile Telecommunications Company (Zain Kuwait) to Acquire Its Stake In Zain Saudi

4280 · 31/01/2011 08:05:21 · Announcement #20204 · View on Saudi Exchange

Kingdom Holding Company Announces a Non-Binding Offer And A Preliminary Expression That it Has Sent to the Board of Directors of Mobile Telecommunications Company (Zain Kuwait) to Acquire Its Stake In Zain Saudi

Kingdom Holding Company (KHC) announced today that it has sent to the Board of Directors of Mobile Telecommunications Company K.S.C. (Zain) a non-binding offer and a preliminary expression of interest to acquire Zains stake in Mobile Telecommunications Company Saudi Arabia J.S.C. (Zain KSA). The expression of interest shall be valid until 17:00 Riyadh time on February 6, 2011. Subject to the acceptance of such a letter by the Zain Board, the non-binding offer is conditional on several factors which will be met before a binding offer is made. Shareholders of Zain, Zain KSA and KHC will be informed of any further material developments on a timely basis.

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