Maharah signs sale, purchase agreement to acquire 85% of equity in Alshifa

Maharah Human Resources Company (Maharah) announced on Monday that GAG has signed the sale and purchase agreement by its 100% owned subsidiary – Growth Avenue Investment Company (“GAG”) – with owners of Alshifa Alrabia Medical Company (“Alshifa”) to acquire 85% of equity in Shifa.

This comes in reference to Maharah announcement on Tadawul website on 28-09-2021, regarding the MOU signed by its 100% owned subsidiary GAG with owners Alshifa to acquire 85% of equity in Alshifa.

Maharah said that that “GAG has signed a sales and purchase agreement on 06-12-2021G, to acquire 85% of equity in Alshifa which is specialized in home health care services. The closure of the transaction and transfer of shares is subject to approvals of the relevant authorities including the General Authority of Competition. Maharah will announce any future development in due course.”