Taiba Investments Co. signed a binding implementation agreement on April 8 to make an offer to acquire 100% of Dur Hospitality Co.’s shares in exchange for issuing new shares in Taiba.
In a statement to Tadawul, the companies pointed out that the deal was concluded in compliance with Article (26) of the Merger and Acquisition Regulations, and in accordance with the Rules on Offering Securities and Continuing Obligations issued by the Board of the Capital Market Authority (CMA).
Taiba announced its intention to submit an offer under the acquisition agreement pursuant to the terms and conditions set forth in the implementation agreement.
In December 2022, Taiba and Dur signed a memorandum of understanding on a possible securities exchange deal, including a non-binding agreement on structuring and share swap coefficient, Argaam earlier reported.
