Batic Investments and Logistics Co has extended the deadline for purchasing Al Muhaidib Land Transport Co. and Himmah Logistics Company until 31 December.

The transactions will be subject to regulatory approvals, including the Capital Market Authority’s (CMA) approval, according to a statement to the Saudi Stock Exchange (Tadawul).

In April, BATIC inked a contract with Abdulkadir Al Muhaidib and Sons and Himmah Group to acquire 100% of Al Muhaidib Land Transport Co. and Himmah Logistics Company.

BATIC last reported an 87.9% profit decrease, logging SAR 1.94 million in the second quarter of 2018, from SAR 16.05 million during Q2-17.

By 10:57 am Saudi time, BATIC’s stock remained unchanged at SAR 36.25.

All Rights Reserved - Mubasher Info © 2005 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.