Stopping consideration of a lawsuit against “Chemanol” in the acquisition of “Aldar Chemicals”

The Commercial Court in Dammam decided to stop the proceeding of the lawsuit demanding that the former owners of Aldar Chemicals Company pay the remaining amount of the price of the acquisition of the company by the methanol chemicals company Chemanol.

Chemanol said in a statement on its website "Saudi Arabia trading": The suspension of the case due to the presence of another case related to it is based on Article 87 of the Sharia Procedures System.

Aldar Chemicals Company was demanding that Chemanol pay the remaining price of the acquisition deal, amounting to approximately 43.9 million riyals.

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