Al Kuzama Trading eyes a 30% stake in Twenty Four Beverages

M&A WATCH-

Al Kuzama Trading signed a non-binding MoU to acquire a 30% stake in Twenty Four Beverages for an undisclosed sum, it said in a disclosure to Tadawul yesterday. The MoU — valid for 60 days and extendable by mutual agreement — is subject to financial, juridical, and operational due diligence, as well as regulatory approvals.

REMEMBER- Al Kuzama signed a preliminary, non-binding MoU to acquire 60% of Raed Foods Catering Companyin August, with financial details set to be determined after a final agreement is reached.

TECH-

Chinese AI company SenseTime MEA partnered with King Saud University to launch a joint AI Innovation Center in the Kingdom, it said on LinkedIn earlier this week. Backed by a SenseTime MEA’s local GPU cluster, the center will accelerate teaching, research, and talent development, enabling advanced AI capabilities such as large language models, content generation, and visual perception.