Anam Holding Group signed a non-binding memorandum of understanding with Wasit Saudi Arabia and the potential acquisition of 51% of Wasit Entertainment and Beauty Systems, a branch of Wasit Saudi Arabia.
According to Arab Net, Wasit Saudi Arabia for entertainment systems was established in 2018 in line with 2030 vision, which focuses on one of its goals to develop the tourism and leisure sector in Saudi Arabia and localize local industries.
Wasit is manufacturing and producing all children's entertainment and entertainment equipment and accessories from garden supplies, beaches, parks, gardening games and water cities, using national raw materials.
This acquisition aims to diversify the work of Anam Holding Group, as well as to take advantage of the opportunities in this sector.
The parties agreed that when reaching a final agreement of the potential deal, the acquisition would be in cash, according to a statement posted on the Saudi market trading website.
