Arabian Centres Company (Cenomi Centers) announces the latest developments in relation to the discussions with Fawaz Abdulaziz Alhokair Company (Cenomi Retail) regarding a potential combination of the two companies.

Arabian Centres Company (Cenomi Centers) announces the latest developments in relation to the discussions with Fawaz Abdulaziz Alhokair Company (Cenomi Retail) regarding a potential combination of the two companies.

21 December 2023 08:06 AM

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Explanation

Introduction

Further to the announcement made by Arabian Centres Company (“Cenomi Centers”) on the Saudi Exchange website on 07/05/2023G (corresponding to 17/10/1444H) with regards to being in discussions with Fawaz Abdulaziz Alhokair Company (“Cenomi Retail”) in relation to a potential transaction to combine the business of the two companies, the Boards of Directors of the two companies have agreed to suspend the discussions regarding the business combination until further notice. While the companies continue to believe in the strategic merits of a potential combination, the two companies believe that conditions and timing are currently not ideal for the business combination of the two companies. Cenomi Centers remains committed to engaging in transactions that deliver benefits to all stakeholders. Cenomi Centers’ Board of Directors would like to thank Cenomi Retail and all parties involved for their efforts.

Previous Announcement

Arabian Centres Co. (Cenomi Centers) announces that it is in discussions with Fawaz Abdulaziz Alhokair Company (Cenomi Retail) on a potential combination of the two companies

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