Ending merger deal negotiations with international fashion agencies

Fawaz Abdulaziz Al Hokair & Co. (Sinomi Retail) has concluded negotiations on a potential merger deal with an international fashion agency.
The company announced on the Saudi Tadawul website last August 19 that it had entered into negotiations with one of the leading global fashion retail companies, regarding a potential fundamental deal that includes merging a number of commercial fashion agencies.
The company said in a statement on Tadawul today that it is currently studying other strategic options to achieve the interests of the company and its shareholders.
She added that the options include the possibility of conducting a deal with a strategic investor, but the structure and details of the deal are still subject to discussion and in its initial stages.
It noted that any fundamental developments in this regard will be announced in a timely manner, in accordance with the relevant regulatory requirements.