Maharah Signs Agreement to Acquire 40% of Shares of SMS

Maharah Human Resources Company (“Maharah”) announced on Sunday that on Friday 22 April 2022, GAC and the selling shareholders of SMS signed the sales and purchase agreement (“SPA”) to acquire 40% of their shares in SMS.

GAC will start the process of submission to the relevant authorities including the General Authority for Competition to obtain its no-objection to complete the acquisition. Further updates on such and the transfer of shares will be announced on timely basis.

This comes with reference to Maharah’s announcement on Tadawul website on 22 March 2022; regarding the singing of a non-binding MOU between Maharah’s 100% owned subsidiary (Growth Avenue Investment Company (“GAC”)) and shareholders of Saudi Medical Systems Company (“SMS”) which is specialized in hospital catering, to acquire 40% of their shares in SMS.