Mouwasat signs off MOU to buy 100% Egyptian Al-Marasem stakes

Mouwasat Medical Services concluded a non-binding MEMORANDUM of understanding to purchase 100 % of the entire stakes of The Al-Marasem International Hospital, Egyptian limited joint stock company to be 100% owned by Mouwasat Medical Services company after reaching a final agreement in cash and after the completion of the due diligence work.

The company added in a statement on Tadawul that understanding to reach a final agreement to buy 100% of the entire shares of the owners of Al-Marasem International Hospital in Arab Republic of Egypt . This memorandum aims to define the framework of understanding on the initial mutual obligations and rights between the parties regarding the procurement process. The parties also agreed to determine the value of the transaction after the completion of the due diligence work.

The financial impact on the company’s financial results will appear after the transaction is completed.