Al-Hokair Tourism, MS Retail Sign Agreement to Open Saudi Stores

Abdul Mohsen Al-Hokair Tourism and Development Co., a Saudi entertainment group, and MS Retail KSC of Kuwait signed a memorandum of understanding to open BAROUE brand stores in Saudi Arabia. (SABIC)

The agreement is valued at 80 million riyals ($21 million), the adviser and arranger, International Financial Advisors (IFA) KSCC, said in an e-mailed statement today.

To contact the reporter on this story: Glen Carey in Riyadh at gcarey8@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net