United Wire Factories Company (SASE:1301) entered into a non-binding memorandum to acquire an unknown minority stake in Aravali Fence LLC on February 20, 2022. The companies also decided to determine the value of the final deal after completing the evaluation and due diligence audit. The MoU will be effective from the date of signing and valid for 90 days, subject to renewal on approval from both parties. on May 19, 2022, an extension of the memorandum of understanding for a period of (90) ninety days were announced, subject to extension under a written agreement between the two parties.

United Wire Factories Company (SASE:1301) entered into a Share Purchase Agreement to acquire 30% Aravali Fence LLC on August 18, 2022. The agreement is subject to the approval of the General Authority for Competition and other relevant regulatory bodies for its completion. The agreement is subject to a number of conditions that must be met on October 30, 2022.