TALCO signed a non-binding MoU with Eastern Aluminum Extrusion Factory to explore an acquisition
Al Taiseer Group Talco Industrial Co. (TALCO) signed on Nov. 23, a preliminary, non-binding memorandum of understanding (MoU) with Eastern Aluminum Extrusion Factory, for the purpose of acquisition, according to a statement to Tadawul. 
The MoU aims to outline the initial framework of mutual obligations and rights between both parties and complete feasibility studies and financial and legal due-diligence reviews. It also covers several standard provisions governing information confidentiality.
The MoU becomes effective from the date of signing and will remain in force for nine months. It can be also extended upon written agreement between the two parties.
The relevant financial impact cannot be determined at present until a final agreement is reached.
Any material developments will be disclosed in due course.
TALCO indicated that there are no related parties involved, the statement added.
TALCO signed a non-binding MoU with Eastern Aluminum Extrusion Factory to explore an acquisition
Al Taiseer Group Talco Industrial Co. (TALCO) signed on Nov. 23, a preliminary, non-binding memorandum of understanding (MoU) with Eastern Aluminum Extrusion Factory, for the purpose of acquisition, according to a statement to Tadawul.
The MoU aims to outline the initial framework of mutual obligations and rights between both parties and complete feasibility studies and financial and legal due-diligence reviews. It also covers several standard provisions governing information confidentiality.
The MoU becomes effective from the date of signing and will remain in force for nine months. It can be also extended upon written agreement between the two parties.
The relevant financial impact cannot be determined at present until a final agreement is reached.
Any material developments will be disclosed in due course.
TALCO indicated that there are no related parties involved, the statement added.
