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Saudi Arabia’s Al-Baha Cancels Plan to Purchase Three Companies

Al-Baha Development & Investment Co. abandoned plans to take over three companies today, the operator of industrial projects in Al-Baha province in Saudi Arabia said in a statement to the Saudi bourse.

The company canceled a memorandum of understanding to buy Saqifa Al Safa Co., Saudi Building & Construction Management Co. and Serry Said Shaaban Est., “due to an increase in the market value of the three companies,” the statement said.

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