The Clap Nadec (6010) revealed that it had signed a non-binding memorandum of understanding with Leha Group for the production of potato seeds and their propagation in KSA.
The Deets Nadec clarified that Leha Group is a limited liability company specializing in the cultivation and marketing of potatoes while providing storage and cooling solutions to supply chains for agricultural products in KSA.
MoU The memorandum of understanding sets a general framework for cooperation between the two companies, including the study of joint investment in the field of seed potato production.
This memorandum will be effective starting October 1, 2023, and will on April 30, 2023.
What Now The two parties agreed to appoint independent financial, legal, and technical advisors if they wish or if the official authorities require that.
The full financial value will be determined and announced, after completing legal, financial, and commercial due diligence.