United Wire Factories Company completed the acquisition of 30% stake Aravali Fence LLC.
United Wire Factories Company (SASE:1301) entered into a Share Purchase Agreement to acquire 30% stake in Aravali Fence LLC on August 18, 2022. The agreement is subject to the approval of the General Authority for Competition and other relevant regulatory bodies for its completion. The agreement is subject to a number of conditions that must be met on October 30, 2022.As on March 8, 2023, the issuance of the General Authority for Competition's non-objection to the economic concentration process, and thus the company will work to complete the agreement by paying its share in the capital of A One Fence DMCC in the amount of SAR 0.2814 million.
United Wire Factories Company (SASE:1301) completed the acquisition of 30% stake Aravali Fence LLC on October 2, 2023.