Maharah subsidiary gets GAC no objection on Care Shield acquisition

28/08/2022 Argaam
Logo ofMaharah Human Resources Co.

Logo of Maharah Human Resources Co.

Maharah Human Resources Co.’s fully-owned subsidiary Growth Avenue Co. received on Aug. 25 a "no obligation to report" from the General Authority for Competition (GAC) regarding the acquisition of a 41.36% stake in Care Shield Holding Co., according to a bourse statement.

 

Accordingly, the parties can now complete the acquisition transaction, which is currently 90% fulfilled.

 

Growth Avenue will proceed with the acquisition process, after satisfying all conditions precedent to closing.

 

Further updates on closure and transfer of shares will be announced in due course, the statement added.

 

Earlier this month, Growth Avenue signed a sale and purchase agreement (SPA) to acquire the 41.36% stake held by El Seif Commercial Investment Co. Ltd. and Saudi Medicare Co. Ltd. in Care Shield Holding Co. (Kingdom Hospital & Consulting Clinics), Argaam reported.

 

In March, Maharah’s subsidiary signed a non-binding memorandum of understanding (MoU) with El Seif and Saudi Medicare to acquire their full equity in Care Shield Holding.

 

For More Mergers and Acquisitions

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.