Maharah Announces Extension of MOU for its subsidiary acquisition of Care Shield Holding until early August

Maharah announced on Monday that all parties agreed to extend the MOU between its 100% owned subsidiary Growth Avenue Investment Company (“buyer”) – and El Seif Commercial Investment Company Limited and Saudi Medicare Company Limited (“Sellers”) to acquire Sellers full equity in Care Shield Holding Company (Kingdom Hospital & the Consulting Clinics) until 01 August 2022 with the same terms and conditions.

It added that this extension is with the same terms and conditions regarding the signing of a 100% owned subsidiary company (The Growth Path Investment Company) a non-binding memorandum of understanding with Al-Seef Trading Investment Company and the Saudi Medical Care Company to acquire their entire stake in Care Shield Holding Company Ltd. (Kingdom Hospital and Consulting Clinics).

This comes with reference is made to Maharah announcement published on Tadawul website on 13 March 2022 in which Maharah announced that its 100% subsidiary (Growth Avenue Investment Company) signed a non-binding MOU with (1) El Seif Commercial Investment Company Limited and (2) Saudi Medicare Company Limited to acquire their full equity of 41.37% in Care Shield Holding Company (Kingdom Hospital & Consulting Clinics).

Further announcements will follow upon any important development with regards to the subject of the MOU.