United International Transportation Company (SASE:4260) signed a Non-Binding Memorandum of Understanding to acquire Al-Jazira Equipment Company on August 24, 2023. A specialized advisor will be appointed to complete the financial and legal due diligence study process, and any material developments regarding the final acquisition agreement will be announced in due course. The final agreements are signed after completing the necessary studies, due diligence, and after obtaining the regulatory approvals.

The conclusion of the proposed transaction is subject to the completion of the financial and legal due diligence process. The proposed deal is subject to obtaining the regulatory approvals of the competent authorities and the approval of the company's extraordinary general assembly.