| Element List | Explanation |
|---|---|
| Introduction | With reference to Takween Advanced Industries announcement published on the Saudi Exchange website on 30/04/2026 regarding the signing of a Share Purchase Agreement to acquire the entire 70% equity interest held by JOFO Nonwovens Co., Ltd in Advanced Fabrics Factory Company (SAAF), the Company would like to announce that it obtained, on 05/07/2026, the General Authority for Competition's No Objection in relation to completing the acquisition, as part of the regulatory procedures required to complete the transaction. |
| Previous Announcement | Takween Advanced Industries Announces the Signing of a Share Purchase Agreement to Acquire the Entire 70% Equity Interest Held by JOFO Nonwovens Co., Ltd in Advanced Fabrics Factory Company (SAAF). |
| Date of Previous Announcement on Saudi Exchange’s Website | 2026-04-30 Corresponding to 1447-11-13 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Company obtained the General Authority for Competition's No Objection on 05/07/2026 in relation to completing the acquisition, as part of the regulatory procedures required to complete the transaction. |
| Reasons For The Delay on The Date of The Event Previously Announced | Not Applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There is no material change in the costs associated with the announced event. |
| Delay consequences on the Company’s financial results | Not Applicable |
| Additional Information | The Company will continue to complete the remaining regulatory procedures required to finalize the acquisition and will announce any material developments in due course, in accordance with the applicable laws and regulations. |
Takween Advanced Industries Co. Announces an update on Takween Advanced Industries Announces the Signing of a Share Purchase Agreement to Acquire the Entire 70% Equity Interest Held by JOFO Nonwovens Co., Ltd in Advanced Fabrics Factory Company (SAAF).
AI Summary
- Takween Advanced Industries received a "No Objection" certificate from the General Authority for Competition on July 5, 2026, regarding its proposed acquisition.
- The transaction involves acquiring the entire 70% equity interest held by JOFO Nonwovens Co., Ltd in Advanced Fabrics Factory Company (SAAF).
- This approval is part of the regulatory procedures required to finalize the Share Purchase Agreement initially announced on April 30, 2026.
- The company reported no material changes in costs associated with the event and will continue completing remaining regulatory requirements.
