Al Hammadi close to hiring Goldman Sachs for Care merger: report

03/02/2018 Argaam

 

Al Hammadi Company for Development and Investment (Al Hammadi) is close to hiring Goldman Sachs Group to advise on merger talks with National Medical Care Co. (Care), Bloomberg reported, citing sources with knowledge of the matter.

 

The mandate isn’t final and the company’s plans could change, the sources said, adding that Care is likely to work with JPMorgan Chase & Co.

 

Al Hammadi will select an adviser soon, a representative said without providing any additional details.

 

In August 2017, Hospitals operator Al Hammadi had agreed to start non-binding talks with Care over a potential merger.

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