By Neeraj Gangal
Alhokair to buy stakes in three retail firms as part of drive to expand in region.
Saudi-based retailer Fawaz Abdulaziz Alhokair Co 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 specialises in fashion retail.
Alhokair represents international brands such as Zara chain owned by Spain's Inditex and Marks and Spencer. (Reuters)