Saudi Printing and Packaging Company said Saturday it has signed a memorandum of understanding to buy a majority stake in a UAE-based plastics company.
Saudi Printing said in a statement to the Saudi bourse it would take a stake ranging between 73.3 percent and 80 percent in Sharjah-based Emirates National Factory for Plastic Industries, known as ENPI.
The company said it will finance the transaction through its own resources and Islamic financing.
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