Batelco and Kingdom Holding Company (KHC) consortium to acquire Zain Kuwait’s 25% stake in Zain Saudi Arabia in a statement said that they would complete due diligence by the end of this month.
The completion of this exhaustive exercise will pave the way for the consortium to close the deal of acquisition of the Zain KSA.
“The consortium intends to move to complete its proposed acquisition of Zain Saudi based on term sheets signed in April and July of 2011 with Zain Group and Zain Saudi Arabia respectively, as soon as all outstanding conditions are satisfactorily negotiated with all parties concerned,” Batelco in a statement issued on Sunday said.