The United International Transportation Company (Budget Saudi) announces an update on its announcement that one of its subsidiaries has signed a Memorandum of Understanding regarding the possible acquisition of (70%) of the Overseas Development Holding Company’s shares in its subsidiaries in the kingdom of Saudi Arabia, the United Arab Emirates and the State of Kuwait.
- Date: 16-Mar-2023
- Source: Mubasher
- Sector:Transport
- Country:Saudi Arabia
The United International Transportation Company (Budget Saudi) announces an update on its announcement that one of its subsidiaries has signed a Memorandum of Understanding regarding the possible acquisition of (70%) of the Overseas Development Holding Company’s shares in its subsidiaries in the kingdom of Saudi Arabia, the United Arab Emirates and the State of Kuwait.
|Element List||Explanation|
|Introduction|| With reference to the announcement of United International Transportation Company (Budget Saudi) published on the Saudi Exchange website (Tadawul) on 17/01/2023 regarding the latest updates regarding the signing of one of its subsidiaries, a memorandum of understanding of the possible acquisition of (70%) of the shares of Overseas Development Holding Company E.C. in its subsidiaries in the kingdom of Saudi Arabia, the United Arab Emirates, and the State of Kuwait.
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The company would like to announce that the signing of the abiding memorandum of understanding has been completed to acquire 70% of the total shares of the subsidiaries of the Overseas Development Company in each of the following countries:
1. 70 % of the share capital of Overseas Development Co. Ltd. in KSA.
2. 70 % of the share capital of Overseas Development LLC. in UAE.
3. 70 % of the share capital of Kuwait Overseas Co. for Shipping & Logistics in Kuwait.
|Previous Announcement||The United International Transportation Company (Budget Saudi) announces an update on its announcement that one of its subsidiaries has signed a Memorandum of Understanding regarding the possible acquisition of (70%) of the Overseas Development Holding Company’s shares in its subsidiaries in the kingdom of Saudi Arabia, the United Arab
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