Maharah acquires 90% of Spectra Support Services

Logo of Maharah Human Resources

Maharah Human Resources Co. completed the sale and purchase transaction to acquire 90% of Spectra Support Services Co., the firm said in a statement to Tadawul today, Aug. 5.

The companies also entered into a settlement agreement, where selling parties agreed to waive the full transaction considerations in exchange for Maharah’s agreement to capitalize, in Spectra paid-in capital, an equal amount from the debt owed by Spectra to Maharah.

In April, Maharah signed an agreement to purchase 90% of Spectra, Argaam reported.

In June, Maharah extended the execution of pre-conditions of the sale and purchase agreement until Oct. 30.