GAC nods to NMC Health’s 53% stake sale in Saudi Medical Care Group

30/11/2022 Argaam

logo of NMC Healthcare

The General Authority for Competition’s (GAC) gave no objection to the economic concentration between Insurance Company for Investment Projects (one-individual company), Saudi Medical Care Group (SMG) and UAE’s NMC Healthcare.

 

The insurance firm will acquire NMC Health’s 53% stake in SMG, GAC said in a statement today, Nov. 30.

 

SMG owns 49.20% of Tadawul-listed National Medical Care Co. (Care).

 

In March 2019, the General Organization for Social Insurance (GOSI) and Hassana Investment Co. reached a final agreement to transfer their 38.88% interest in Care to SMG.

 

NMC Health and GOSI own 53% and 47% of SMG, respectively.

 

The UAE-based NMC Health, which is listed on London Stock Exchange (LSE), ollapsed in 2019, revealing that it had more than $4 billion of undisclosed borrowings, which totaled $6.6 billion.

 

For More Mergers and Acquisitions

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read