Middle East Paper Company to acquire Al-Medan Project Company for Corrugated Carton for SAR91m.

Middle East Paper Company, a paper manufacturer in the Middle East, agreed to acquire Al-Medan Project Company for Corrugated Cartons, a provider of high-quality packaging solutions across the Kingdom, for SAR91m. The agreement includes standard fundamental warranties from both parties, along with business and tax warranties provided by the sellers. The sellers will be subject to a 12-month lock-up period starting from the completion date of the deal. Further details about the lock-up period and other terms will be disclosed in the shareholders’ circular.