Jazan Energy acquisition of Jazil Investment off after capital increase denied
RIYADH: Jazan Energy and Development Co. has terminated its agreement to acquire Jazil Investment Co. after Saudi Arabia’s Capital Markets Authority denied its request to increase its capital. Jazan Energy had requested to increase its capital from SR500 million ($133 million) to SR828 million through the issue of new ordinary shares to the sellers of Jazil Investment, Jazan
Source: arabnews.com