JOFO Nonwoven to acquire 70% of Takween's subsidiary Advanced Fabrics

Takween Advanced Industries received no-objection from the General Authority for Competition for China-based JOFO Nonwoven Co. Ltd. to acquire 70% of its subsidiary Advanced Fabrics (SAAF) for a total enterprise value of $90 million. The deal is expected to close on June 30, 2021.

“Takween Advanced Industries Co. (Takween) received no-objection from the General Authority for Competition (GAC), on June 21, to complete an economic concentration process with China-based JOFO Nonwoven Co. Ltd. that will acquire 70% of its subsidiary, Advanced Fabrics (SAAF).”argaam.com

• 1 source
• argaam.comTakween gets GAC nod for China’s JOFO 70% acquisition of subsidiaryArgaamPlusJun 21, 2021

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