Mouwasat signs MoU to fully acquire Egypt’s Al-Marasem International Hospital

One of Mouwasat Medical Services Co.’s hospitals

Mouwasat Medical Services Co. entered into a non-binding memorandum of understanding (MoU), on May 22, to fully acquire Egypt-based Al-Marasem International Hospital, a limited joint stock company. Al-Marasem will be 100%-owned by Mouwasat when a final agreement is reached in cash and after the completion of the required due diligence.

The MoU, which came into effect on the signing date, is valid for renewable three months, Mouwasat said in a statement to Tadawul.

The preliminary agreement aims to define the initial mutual obligations and rights between the parties regarding the acquisition process. The parties also agreed to set the deal’s final value after completing the due diligence.

The relevant financial impact is expected to show on Mouwasat’s financial statements upon the deal completion. Any material updates will be announced in due course, the statement concluded.

For More Mergers and Acquisitions