Riyadh – Mubasher: Thob Al Aseel Company announced the expiration of its non-binding memorandum of understanding (MoU) regarding the potential acquisition of a 100% stake in Al Tuwaijri Men’s Supplies.

The agreement ended on 9 August 2026, without the parties reaching a definitive binding agreement.

The original MoU was signed on 9 February 2026, for a duration of six months to explore the acquisition as part of the company’s expansion and growth strategy.

Following the completion of due diligence and negotiations, both parties decided not to proceed with the transaction.

Thobe Al Aseel confirmed that the termination of the MoU carries no legal or financial obligations for either party.

The company further noted that the conclusion of these talks will not impact existing commercial ties, as Al Tuwaijri Men’s Supplies remains a customer of the company. No material costs were incurred during the negotiation period.

In the first half (H1) of 2026, the listed company’s net profit increased by 13.13% year-on-year (YoY) to SAR 81.74 million from SAR 72.25 million.