Maharah Signs Agreement with El Seif Commercial Investment to acquire their full equity in Care Shield

Maharah announced on Tuesday that Growth Avenue Investment Company and the Sellers signed the Sale and Purchase Agreement to acquire Sellers’ full equity 41.36% in Care Shield Holding Company (Kingdom Hospital & Consulting Clinics).

The Sale & Purchase Agreement includes some conditions precedent to closing including non-objection of the General Authority of Competition and other necessary approvals. Further announcements will follow upon any important development.

This comes with reference to Maharah’s 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 41.36% in Care Shield Holding Company, and reference is also made to Maharah’s subsequent announcement on Tadawul website on 18 July 2022, regarding the MOU extension until 01 August 2022 with the same terms and conditions.