Al Hammadi, Care in early talks on potential merger

Al Hammadi Company for Development and Investment on Wednesday agreed to start non-binding talks with National Medical Care Co. over a potential merger.

Al Hammadi will hire a financial advisor to evaluate the planned merger, the company said in a statement to Tadawul.

The current talks need not necessarily lead to completion of the merger, the statement added.

If approved, the deal will be subject to regulatory approvals as well as the approval of extraordinary general assembly meetings in both companies.