Kingdom Holding, the company partnering with Batelco to acquire a 25 percent stake in Zain Saudi Arabia, said that the Zain board had approved a “non-binding term sheet” which paves the way for due diligence to be completed – delays in this process had led to earlier question marks over the status of the deal. Kingdom now said that due diligence is expected to be completed by the end of August 2011, with the transaction finalised by the end of the third quarter, although it notes that details will remain confidential until the deal is finalised.