ZAWYA-NEWS: Saudi Industrial Export terminates acquisition of Advanced Energy for Trading
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Saudi Industrial Export Co. (SIEC) has terminated its acquisition of Advanced Energy for Trading and Contracting Company. The decision followed due diligence and feasibility studies that did not meet SIEC's expectations. A preliminary agreement for the acquisition was signed in November 2024, but after reviewing the results, the board decided not to proceed with the investment and to terminate the relevant agreements.
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