Jofo Nonwovens to buy 70% stake in SAAF from Takween Advanced Industries

Jofo Nonwovens signed a non-binding MoU to acquire a 70% stake in Saudi Arabia Advanced Fabrics Company (SAAF) from Takween Advanced Industries. The fair value of SAAF is about $82 million.

“The company said in a stock exchange statement that it has signed a non-binding memorandum of understanding with JOFO Nonwoven Co to sell 70% of SAAF.”nonwovens-industry.com

• 1 source
• nonwovens-industry.comJofo Reportedly in Talks to Buy SAAF - Nonwovens IndustryBy: Karen McIntyre EditorJun 10, 2020

Summarized from public sources; check the original articles before acting on it.