Takween Advanced Industries Co. — Capital/Financing Update 2014

Nov 11, 2014

Addendum announcement by Takween Advanced Industries relating to its signing of a non-binding MoU with Savola Group to purchase Savola’s entire operations in the plastic and packaging sector

1201 · 11/11/2014 16:23:21 · Announcement #36115 · View on Saudi Exchange

Addendum announcement by Takween Advanced Industries relating to its signing of a non-binding MoU with Savola Group to purchase Savola’s entire operations in the plastic and packaging sector

Further to the announcement made by Takween Advanced Industries (Takween) on 26/09/1435H. (corresponding to 23 July 2014), regarding signing a non-binding memorandum of understanding with Savola Group (Savola) on 22 July 2014 ("MOU") in relation to the potential acquisition by Takween of Savola Packaging Company, a wholly owned subsidiary of Savola, as well as the addendum announcement which was published on 13/01/1436 H (corresponding to 6 November 2014) regarding the extension of the MoU to 31 December 2014

Takween & Savola (through its subsidiary SPS) in compliance with certain regulatory requirements have submitted an application to the Council of Competition Protection ("Competition Council") on 09 November 2014 regarding the proposed transaction. The Competition Council invites all interested parties to give their opinion on the Proposed Transaction. The Competition Council’s announcement is expected to be published on Wednesday 12 November 2014 in two local newspapers.

Takween will make a public announcement regarding the findings and decision of the Competition Council in relation to the Proposed Transaction in due course.

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