Maharah says GAC acquires 41.36% of Care Shield for SAR 307.1 mln
- Date: 28-Sep-2022
- Source: Argaam
- Sector:Technology
- Country:Saudi Arabia
Maharah says GAC acquires 41.36% of Care Shield for SAR 307.1 mln
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.
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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