Saudi Alhokair considers Retail Group stake buys
RIYADH, March 27 |
RIYADH, March 27 (Reuters) - Saudi-based retailer Fawaz Abdulaziz Alhokair Co 4240.SE said on Saturday it has entered preliminary agreements to buy stakes in three retail firms as part of its drive to expand in the region.
Alhokair signed memorandums of understanding to buy stakes in Retail Group Gulf, Retail Group Egypt and Retail Group Jordan, said the Saudi firm which specializes in fashion retail.
Alhokair represents international brands such as Zara chain owned by Spain's Inditex (ITX.MC) and Marks and Spencer (MKS.L). (Writing by Souhail Karam; Editing by Jason Benham)
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