Takween Advanced Industries Co. — M&A Activity 2025

Dec 17, 2025

Takween Advanced Industries Announces the Signing of a Memorandum of Understanding with the Chinese Partner, JOFO Nonwoven Company Limited, to Acquire Its 70% Stake in Advanced Fabrics Factory Company – SAAF (an Associate Company in which Takween Holds a 30%)

1201 · 17/12/2025 15:38:14 · Announcement #92106 · View on Saudi Exchange

Takween Advanced Industries Announces the Signing of a Memorandum of Understanding with the Chinese Partner, JOFO Nonwoven Company Limited, to Acquire Its 70% Stake in Advanced Fabrics Factory Company – SAAF (an Associate Company in which Takween Holds a 30%)

Element List	Explanation
Introduction	On 17 December 2025, the Board of Directors of Takween Advanced Industries Company approved the signing of a Memorandum of Understanding with the Chinese partner, JOFO Nonwovens Co., Ltd., to acquire its entire 70% ownership in the capital of Advanced Fabrics Factory Company – SAAF (a limited liability company), represented by (129,360) quotas. Takween currently holds a 30% ownership interest in SAAF, represented by (55,440) quotas. Upon completion of the potential transaction, SAAF will become wholly owned by Takween with a 100% ownership interest. The Board further authorized the Chairman to complete the required regulatory procedures and to negotiate and sign the final agreements, subject to reaching a final agreement between the parties.
Memorandum Signing Date	2025-12-17 Corresponding to 1447-06-26
Counterparty	JOFO Nonwoven Company Limited
Memorandum Subject	Agreement on the general framework for studying a potential acquisition transaction pursuant to which Takween Advanced Industries Company would acquire the entire 70% stake held by the Chinese partner, JOFO Nonwovens Co., Ltd., in Advanced Fabrics Factory Company – SAAF, in which Takween currently holds a 30% ownership interest, as a preliminary step toward fulfilling the required regulatory requirements and reaching a final agreement between the parties.
Memorandum Duration	The Memorandum of Understanding shall be valid for a period of sixty (60) business days, and Takween shall have the explicit right, pursuant to the provisions of the Memorandum, to extend such period by giving written notice to the other party.
Related Parties	Mr. George Abraham

Member of the Board of Directors of Takween Advanced Industries Company and Member of the Board of Managers of Advanced Fabrics Factory Company – SAAF. Financial Impact The financial impact cannot be determined at this stage, as the Memorandum of Understanding relates to the evaluation of the potential acquisition and the conduct of due diligence. Accordingly, the impact of the transaction on Takween’s financial statements has not yet been determined. Additional Information The Company will make any material disclosures related to this transaction in due course.

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