Logo ofMolan Steel Co.
In a statement to Tadawul, the company said Yara International seeks SAR 17.88 million in alleged outstanding payments related to the sale of its subsidiary, Mayar International Industry Co., in addition to SAR 2 million in claimed litigation damages. The total value of the claim stands at SAR 19.88 million. 
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Molan stated that it is currently unable to assess the potential financial impact of the lawsuit. The company plans to appoint a specialized attorney to handle the case and represent its interests in court. It also noted that any potential liability cannot be estimated at this stage, pending the commencement of legal proceedings.
Moreover, the legal implications and potential risks of the case remain unclear at this stage. The company will disclose any relevant developments as they occur.
According to Argaam data, Molan announced in December that it signed an agreement with Yara International Ltd. to acquire 100% of Mayar International Industry Co. for SAR 34.88 million.
Logo ofMolan Steel Co.
In a statement to Tadawul, the company said Yara International seeks SAR 17.88 million in alleged outstanding payments related to the sale of its subsidiary, Mayar International Industry Co., in addition to SAR 2 million in claimed litigation damages. The total value of the claim stands at SAR 19.88 million.
For more news on listed companies
Molan stated that it is currently unable to assess the potential financial impact of the lawsuit. The company plans to appoint a specialized attorney to handle the case and represent its interests in court. It also noted that any potential liability cannot be estimated at this stage, pending the commencement of legal proceedings.
Moreover, the legal implications and potential risks of the case remain unclear at this stage. The company will disclose any relevant developments as they occur.
According to Argaam data, Molan announced in December that it signed an agreement with Yara International Ltd. to acquire 100% of Mayar International Industry Co. for SAR 34.88 million.
