United Electronics Company “Extra” announced that it has reached a strategic understanding with Panda Retail Company, according to which “Extra” will manage the electronics and home appliances division in “Panda” markets.
And “Extra” stated in a statement on “Saudi Arabia’s Tadawul” today, Wednesday, that this understanding between the two companies aims to build strategic cooperation in the medium and long term, with the support of “Extra” experience in pioneering the electronics and home appliances retail sector, in addition to the regional spread of “ Panda” as the largest retail chain in Saudi Arabia and a customer base.
Read more: Saudi “Extra” approves the establishment of a subsidiary company in Egypt worth one billion pounds
Extra said that this understanding will contribute to providing the best shopping experience for the customers of the two companies in all regions of the Kingdom.
She pointed out that this cooperation comes to enhance the strategy of “Extra” in reaching the largest segment of customers in various regions of Saudi Arabia.
She added that the two companies will work to complete all studies related to the regulatory, financial, technical and legal aspects and obtain the necessary approvals from the competent authorities to determine the full capabilities and details of this understanding, pointing out that any material developments in this regard will be announced later.
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