Artx: “Enriching Holding” intends to acquire “the countryside to refine sugar”

Artx Industrial Investment Company announced that the Rif Sugar Refining Company (a closed joint stock company), in which Artx owns a share of 15% of the capital, has signed, yesterday, a memorandum of understanding binding by the shareholders of Al -Rif Company with the Atha Holding Company (a closed joint stock company). The rural sugar refining company shares, taking into account that the entire value of the investment has been removed according to the latest annual financial lists on 12-31-2024 AD. /> In the event that the results of the examination resulted in positive indicators, all shareholders – including Artx – commit to completing the deal according to the final conditions that are negotiated and signed in the comprehensive purchase agreement, and providing the guarantees required to cover the financial obligations based on the countryside, including the loan of the Saudi Industrial Development Fund. Its extension with a written agreement between the two parties