Logo ofNama Chemicals Co.
Nama Chemicals Co.extended today, Dec. 30, an agreement with Hadaj Investment Co., a subsidiary of Saudi Industrial Export Co. (Sadirat) and FAAD Capital Partners Co. to establish an investment fund for acquiring a stake in Jubail Chemical Industries Co. (Jana), a subsidiary of Nama Chemicals. 
In separate statements to Tadawul, the companies confirmed that the agreement was extended for an additional three months under the same terms and conditions, with the new expiration date set for April 3, 2025. The previous deal was scheduled to expire on Jan. 3, 2025. The agreement may be further extended upon written consent from all parties.
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The extension allows for the completion of necessary procedures and studies related to the acquisition, including financial, legal, commercial, and technical evaluations. Both companies emphasized that updates will be announced as they become available.
According to data available with Argaam, Hadaj signed a non-binding agreement in October to establish the investment fund in partnership with FAAD Capital, licensed by the Capital Market Authority (CMA) under License No. 32-23270.
The agreement aims to facilitate the creation of the investment fund, which will acquire a stake in Jana, establish the fund’s core framework, and carry out due diligence and valuation assessments.
Logo ofNama Chemicals Co.
Nama Chemicals Co.extended today, Dec. 30, an agreement with Hadaj Investment Co., a subsidiary of Saudi Industrial Export Co. (Sadirat) and FAAD Capital Partners Co. to establish an investment fund for acquiring a stake in Jubail Chemical Industries Co. (Jana), a subsidiary of Nama Chemicals.
In separate statements to Tadawul, the companies confirmed that the agreement was extended for an additional three months under the same terms and conditions, with the new expiration date set for April 3, 2025. The previous deal was scheduled to expire on Jan. 3, 2025. The agreement may be further extended upon written consent from all parties.
For more news and details on MAs
The extension allows for the completion of necessary procedures and studies related to the acquisition, including financial, legal, commercial, and technical evaluations. Both companies emphasized that updates will be announced as they become available.
According to data available with Argaam, Hadaj signed a non-binding agreement in October to establish the investment fund in partnership with FAAD Capital, licensed by the Capital Market Authority (CMA) under License No. 32-23270.
The agreement aims to facilitate the creation of the investment fund, which will acquire a stake in Jana, establish the fund’s core framework, and carry out due diligence and valuation assessments.
