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

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

21 December 2023 08:07 AM

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Explanation

Introduction

Further to the announcement made by Fawaz Abdulaziz Alhokair Company (“Cenomi Retail”) on the Saudi Exchange website on 07/05/2023G (corresponding to 17/10/1444H) with regards to being in discussions with Arabian Centres Company (“Cenomi Centers”) 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 between the two companies 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 Retail remains committed to engaging in transactions that deliver benefits to all stakeholders. Cenomi Retail’s Board of Directors would like to thank Cenomi Centers and all parties involved for their efforts.

Previous Announcement

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

Date of Previous Announcement