The Clap
Madinet Nasr (MNHD) agreed to provide accurate information about the company to Al Dar and its subsidiary SODIC (OCDI), allowing them to consider a revised offer after they rejected the first offer.
Background
The MNHD board of directors rejected the offer put forward by SODIC, as they believed the price was not a fair valuation of the company.
The Deets
The information they will provide includes balances, portfolio, and distribution of their land and classifying the land for its use, be it commercial, residential, or administrative.
MNHD believes that its land distribution is the most important factor in valuing the company, and on that basis, they may expect a more reasonable offer.
Why this Matters
This step indicates MNHD’s willingness to listen to offers, as long as they are reasonable.
MNHD doesn’t fully shut the door for Al Dar 🏚
