Logo of Tihama Advertising and Public Relations Co.
Tihama Advertising and Public Relations Co. signed, on July 30, an agreement with Osama Abdulaziz Al Tawala Law Firm and Legal Consultants to acquire Dan Diamond Real Estate Development and Investment. The deal is valued at SAR 90.72 million. 
Dan owns the land plot that spans 181,440.27 square meters in Al Kharj City, Alkhaldiya district, Tihama said in a Tadawul statement, adding that Dan only owns this land plot that is to be developed commercially and residentially.
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The transaction will be financed through the company’s own resources, bank financing, or investment partnerships with real estate development funds.
The completion of the transaction will be subject to fulfilling all contractual conditions and obtaining the necessary regulatory approvals in Saudi Arabia.
The deal does not involve related parties, the statement said.
Under the 60-day agreement, Tihama has the right to conduct all necessary checks on Dan, its documents, and the validity of the company’s assets within 60 days from the signing date.
During this period, Tihama also has the right to withdraw from the agreement and terminate the acquisition contract without any legal or financial consequences.
Dan shareholders have no right to recourse against Tihama in any way.
During the option period, the contracting party has no right to withdraw from the agreement or dispose of the company’s shares in any way.
The contracting party is also obligated to return the deposit amounting to SAR 5 million if the company withdraws from the agreement within 60 days from the signing date.
Logo of Tihama Advertising and Public Relations Co.
Tihama Advertising and Public Relations Co. signed, on July 30, an agreement with Osama Abdulaziz Al Tawala Law Firm and Legal Consultants to acquire Dan Diamond Real Estate Development and Investment. The deal is valued at SAR 90.72 million.
Dan owns the land plot that spans 181,440.27 square meters in Al Kharj City, Alkhaldiya district, Tihama said in a Tadawul statement, adding that Dan only owns this land plot that is to be developed commercially and residentially.
For more news and details on MAs
The transaction will be financed through the company’s own resources, bank financing, or investment partnerships with real estate development funds.
The completion of the transaction will be subject to fulfilling all contractual conditions and obtaining the necessary regulatory approvals in Saudi Arabia.
The deal does not involve related parties, the statement said.
Under the 60-day agreement, Tihama has the right to conduct all necessary checks on Dan, its documents, and the validity of the company’s assets within 60 days from the signing date.
During this period, Tihama also has the right to withdraw from the agreement and terminate the acquisition contract without any legal or financial consequences.
Dan shareholders have no right to recourse against Tihama in any way.
During the option period, the contracting party has no right to withdraw from the agreement or dispose of the company’s shares in any way.
The contracting party is also obligated to return the deposit amounting to SAR 5 million if the company withdraws from the agreement within 60 days from the signing date.
