Takween Advanced Industries Co. — M&A Activity 2015

Mar 16, 2015

Addendum announcement from Takween Advanced Industries relating to its signing of an agreement to purchase all of the shares in Savola Packaging Systems Company

1201 · 16/03/2015 08:05:02 · Announcement #37633 · View on Saudi Exchange

Addendum announcement from Takween Advanced Industries relating to its signing of an agreement to purchase all of the shares in Savola Packaging Systems Company

Further to the announcement made by Takween Advanced Industries (Takween) on 09-03-1436H (corresponding to 31-12-2014G) regarding signing an agreement with Savola Group to purchase the entire shareholding of Savola Packaging Systems Company (the “Transaction”), the announcement made by Takween on 08-04-1436H (corresponding to 28-01-2015G) regarding issuance of approval No 147 dated 07/04/1436H from the Council of Competition Protection in respect of the Transaction and the announcement made by Takween on 20-5-1436H. (corresponding to 11-3-2015G) regarding obtaining an Islamic credit facility Murabaha, Takween announces the signing on 24-05-1436H (corresponding to 15-03-2015G) of the shareholder resolution amending the articles of association of Savola Packaging Systems Company transferring all shares thereof to Takween before the relevant notary public in the city of Jeddah. It is worth noting that the completion of the Transaction remains subject to satisfaction of certain contractual conditions and regulatory formalities including payment by Takween of the full purchase price to the Savola Group and transfer of all the shares of the subsidiaries of Savola Packaging Systems Company to Takween.

Takween will announce any developments as and when they occur.

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