Al Ahsa Development acquires 25% stake in Twareat

09/01/2019 Argaam

 

Al Ahsa Development Co. (ADC) on Jan.8 signed an agreement with Twareat Medical Company to buy a 25 percent stake in the company for SAR 15 million, the firm said in a statement to Tadawul.

 

ADC will be financing the deal from its own resources, it said.

 

The deal has no related parties and is expected to have a positive impact on ADC’s financial results, the statement added.

 

Twareat was launched in 2010 and it runs Twareat Medical Center. The company reported an average sales growth of 78 percent over three years 2015-2017.

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