Retailing and Operation Division

Saudi Automotive Services Co. (SASCO) announces the latest developments of the options study of sell and leaseback some of its owned sites

02 May 2021
Retailing and Operation Division

ELEMENT LIST

EXPLANATION

Introduction

 

 

 

 

 

SASCO refers to its announcement on the Tadawul website on January 19, 2017, for studying options for sell and leaseback some of its owned sites, In this matter, SASCO advise of a non-binding memorandum of understanding was signed with Falcom Financial Services on April 29 2021 to start the work of the due diligence examination in order to complete the deal.

This memorandum is valid for three months renewal, SASCO will announce any other developments in this regard.

Previous Announcement

Study options for sell and leaseback some of its owned sites.

Date of Previous Announcement on Tadawul's Website

2017-01-19 Corresponding to 1438-04-21

Percentage of fulfilled achievement

do not apply

Event's Expected Completion Date

During three months

Reasons for Exceeding the Announced End Date

do not apply

The costs associated with the event, and if they have changed or not with indication of the reasons.

do not apply

Impact of the Delay on the Company's Financial Results

do not apply

Additional Information

 

 

 

The financial impact cannot be determined at this time and will be announced upon completion of the deal.

No related parts in this regards.