Anaam International Holding Group Company (SASE:4061) entered into a memorandum of understanding to acquire a 55% stake in ARW Industry Company for SAR 23.5 million on December 27, 2021. Anaam International Holding Group Company (SASE:4061) entered into a sale and purchase agreement to acquire 55% stake in ARW Industry Company for SAR 15 million on April 26, 2022. The MoU will be valid for 60 days from signing, during which Anaam Group will carry out the necessary due diligence. The acquisition will be financed from Anaam Group's internal resources. The proposed acquisition is subject to the approval of the competent authorities. The agreement with ARW Industry is subject to a number of conditions, including, but not limited to, obtaining the approval of the competent government authorities and the termination of certain legal procedures.

Anaam International Holding Group Company (SASE:4061) completed the acquisition of 55% stake in ARW Industry Company on June 1, 2022.