WIDAM FOOD COMPANY: Announces the signing of a Memorandum of Understanding with Hassad Food Company Q.C.S.C. regarding a potential transaction in the form of a share swap or merger with Aalaf Qatar W.L.L.

    Widam Food Company  Q.P.S.C. has announced the signing of a Memorandum of Understanding with  Hassad Food Company Q.C.S.C. in relation to a potential transaction in the  form of a share swap or merger with Aalaf Qatar W.L.L, which is wholly owned  by Hassad Food Company.  

The completion of  the potential transaction is subject to the outcome of due diligence studies,  the relevant valuation process, the execution of final agreements between the  parties, the fulfilment of all legal and financial requirements, obtaining  all necessary approvals from the relevant competent authorities, and the  approval of the extraordinary general assemblies of the shareholders of both  companies