Maharah subsidiary signs MoU to acquire 85% stake in Arabian Shifa

28/09/2021 Argaam

Logo of Maharah Human Resources Co.

Maharah Human Resources Co.’s wholly-owned subsidiary signed on Sept. 27, a memorandum of understanding (MoU) to acquire 85% stake in Arabian Shifa Medical Co., specialized in home healthcare services and operation of medical centers.

 

The terms of the MoU include the completion of financial and legal due diligence and obtaining required approvals, the Saudi-listed firm said in a bourse filing.

 

The company will conduct a full due diligence, valuation, final negotiations, signing of a share purchase agreement (SPA), and applying for approvals from relevant bodies, within the MoU period.

 

Any binding agreement is subject to board of directors’ approval and other relevant approvals, the company said, adding that further announcements will follow once there are essential developments related to the acquisition.

 

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