Anaam Holding completes acquiring 55% of ARW Industry

Further to the announcement of Anaam International Holding Group Company, which was published on the Tadawul website on Tuesday 25/09/1443 AH corresponding to April 26, 2022 AD regarding its signing of a sale and purchase agreement to acquire (55%) of the shares of ARW Industry Company (a limited liability company – one person company ) .

The company would like to announce to the honorable shareholders that it has completed all the procedures related to the acquisition deal on Wednesday 02/11/1443 AH corresponding to 06/01/2022 AD.

ARW Industry manufactures medical supplies through its factory located in the third industrial area in Jeddah.

Anaam International Holding Group Company signed a sale and purchase agreement on 55% of the shares of ARW Company on 04/26/2022 AD. Sales to ARW Company, and the agreement is subject to a number of conditions, including but not limited to obtaining the approval of the competent governmental authorities and the termination of some legal procedures.

The conclusion of the said agreement falls within the expansion plan of Anaam Holding Group to enhance its market position in line with its strategic objectives.

The financial impact of the deal will be visible on the financial results of the current fiscal quarter (Q2) of the fiscal year ending on 31-12-2022.