[ad_1]
Arab Network
Fawaz Al Hokair has entered into an acquisition agreement for Union, which is 100% owned by Food and Entertainment Company, for 340 million riyals.
Al Hokair has appointed Swicorp as financial advisor for the acquisition and PWC for non-recourse financial studies.
The agreement includes a number of guarantees provided by the company's food and entertainment business on the Union's business and its real estate badets, including the accuracy of the information contained in the accounts and the financial statements of the Union, as well as the innovative property of the company's badets and the absence of charges, mortgages or rights of third parties, to others guarantees relating to the licenses of the innovative enterprise of the union, its equipment, personnel and intellectual property.
The agreement is subject to a number of prerequisites that the food and entertainment company must meet by December 31st.
The agreement includes the transfer of a number of badets and employees and a number of rights related to a number of brands related to the catering sector and of coffee, the transfer of shares held by the company's food and entertainment industry in a number of companies, in addition to obtaining the necessary regulatory approvals.
Short link:
Source link
