Saudi Arabia's Fipco Extends Deadline for Acquisition of Bina Industrial Investment

01:41 AM EDT, 09/10/2026 (MT Newswires) -- Filling and Packing Materials Manufacturing Co. (SASE:2180), d/b/a Fipco, said Thursday it signed an addendum extending the deadline to complete its acquisition of Bina Industrial Investment Holding Co. by 270 days. The extension brings the total period for completing the transaction and satisfying closing conditions to 540 days from the effective date of the share purchase agreement, unless the parties agree to a further extension. The packaging products company agreed in December 2025 to acquire Bina Industrial for 364.5 million Saudi riyals through a share-based transaction that would increase its capital and issue new shares to Bina shareholders. Completion remains subject to approval from Saudi Arabia's Capital Market Authority for the capital increase, as well as other closing conditions.