JAZADCO cancels MoU to acquire Jabal Ohod Holding

12/12/2019 Argaam

 

Jazan Energy and Development Co.'s (JAZADCO) announced on Thursday the cancellation of the memorandum of understanding (MoU) signed on June 13, 2019 with Jabal Ohod Holding to conduct a feasibility study for the acquisition of the holding firm.

 

Following the review of the initial assessment, JAZADCO’s board of directors came to the conclusion that the potential acquisition does not fit with the company’s strategy, JAZADCO said in a statement to Tadawul.

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