Anaam International Holding Group Company (SASE:4061) announces the signing of Non-Binding Memorandum of Understanding to acquire 51% stake in Saudi Wasit Factory for Entertainment & Beauty Systems of Saudi Wasit Establishment on April 4, 2021. Anaam International Holding Group Company (SASE:4061) signed a sale and purchase agreement to acquire 51% stake in Saudi Wasit Factory for Entertainment & Beauty Systems of Saudi Wasit Establishment for transaction valued at SAR 24.5 million on July 4, 2021.Consideration will be paid in cash. The transaction value will be paid by through cash from the company's internal cash. The procedures for the proposed acquisition are subject to the approval of the competent authorities and the extraordinary general assembly. The transaction is subject to approval of the relevant governmental authorities and the finalization of some legal requirements.