Molan Steel Co. says legal action filed against Yara International Limited before the Commercial Court in Riyadh to nullify a contract
Molan Steel Co. filed a lawsuit against Yara International Limited before the Commercial Court in Riyadh to nullify apurchase agreementof its subsidiary registered under the name Mayar International Industry Co., at a contract value of SAR 34.88 million,according to a statement to Tadawul.
The lawsuit was filed as Yara International committed a fundamental error in the financial statements issued on the purchase date (Nov. 30, 2024), upon which the purchase price of the branch subject to the contract was based. This materially led to a significant increase in the contract value.
Molan Steel Co. says legal action filed against Yara International Limited before the Commercial Court in Riyadh to nullify a contract
Molan Steel Co. filed a lawsuit against Yara International Limited before the Commercial Court in Riyadh to nullify apurchase agreementof its subsidiary registered under the name Mayar International Industry Co., at a contract value of SAR 34.88 million,according to a statement to Tadawul.
The lawsuit was filed as Yara International committed a fundamental error in the financial statements issued on the purchase date (Nov. 30, 2024), upon which the purchase price of the branch subject to the contract was based. This materially led to a significant increase in the contract value.
