Riyadh – Mubasher: Aqaseem Factory for Chemicals and Plastics Company has officially announced the termination of its memorandum of understanding (MoU) regarding a stake acquisition in Leader Express, according to a bourse filing.
The decision, which was linked to a potential 40% equity takeover in the car services company, follows a period of due diligence and negotiations that failed to result in a definitive agreement between the two parties.
Aqaseem informed shareholders and the investing public through a regulatory disclosure that it will no longer pursue the purchase of a significant minority interest in Leader Express.
This update serves as a formal conclusion to the preliminary proceedings that were first brought to the market's attention in late 2025.
Aqaseem referenced its previous announcement published on 30 November 2025, which initially detailed the signing of a non-binding MoU for the potential equity acquisition, a move that would have represented a strategic investment for the chemical and plastic manufacturing firm.
According to the latest filing, the termination of the deal comes after the completion of necessary studies and bilateral discussions.
Aqaseem stated that after conducting the relevant due diligence and evaluating the understandings reached between the two sides, a final agreement regarding the execution of the transaction could not be achieved. Consequently, both parties have agreed to terminate the MoU and cancel all associated work regarding the potential acquisition.
The termination of the agreement does not involve any associated costs or financial liabilities for Aqaseem. This ensures that the company’s capital remains unencumbered by the canceled transaction.
In the context of the Saudi capital market, the transition from MoU to a final sale and purchase agreement is contingent upon successful financial, legal, and operational evaluations. The decision to halt the acquisition reflects the standard regulatory and corporate governance procedures where companies must ensure that any final investment aligns with their strategic interests and shareholder value.
Aqaseem lately disclosed details regarding its second semi-annual distribution of returns for the Aqaseem Sukuk Series 1.
