Logo of Maharah Human Resources Co.
Maharah Human Resources Co.’s fully owned subsidiary, Growth Avenue Co. (GAC), closed on Sept. 27 the acquisition of a 41.36% stake in Care Shield Holding Company Ltd. (Kingdom Hospital & Consulting Clinics), for a total consideration of SAR 307.11 million paid in cash to the selling shareholders.
The title to acquired shares was transferred to the buyer, Maharah said in a statement to Tadawul.
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Acquisition Details |
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Deal |
GAC’s acquisition of El Seif Commercial Investment Co. Ltd. and Saudi Medicare Co. Ltd.’s holdings in Care Shield Holding Co. (Kingdom Hospital & Consulting Clinics) |
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Acquired Stake |
41.36% |
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Value |
SAR 307.11 mln |
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Parties |
GAC, El Seif and Saudi Medicare Co. Ltd. |
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GAC Ownership |
A wholly owned subsidiary of Maharah |
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Financing |
The deal was 35% financed by the company’s resources. The remaining value was financed by a loan from Al Rajhi Bank |
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Achievement Percentage |
100% |
GAC will be eligible for a profit share from the acquired stake stating Jan. 1, 2022.
In August, Maharah said that GAC received on Aug. 25 a "no obligation to report" from the General Authority for Competition regarding the acquisition of a 41.36% stake in Care Shield, Argaam reported.
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