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Dallah Healthcare to acquire 58.64% of Care Shield Holding

Dallah Healthcare to acquire 58.64% of Care Shield Holding
Dallah Healthcare entered a share swap agreement with Kingdom Investment and Development
DALLAH HEALTH
4004
-0.87% 56.90 -0.50
KINGDOM
4280
0.29% 6.85 0.02

Riyadh – Mubasher: Dallah Healthcare Company (DHC) has signed a share swap agreement with Kingdom Investment and Development Company (KIDC), a subsidiary of Kingdom Holding Company (KHC).

The deal involves acquiring a 54.56% stake in Care Shield Holding Company (CSHC) for a total value of SAR 300 million, according to market disclosures on Sunday.

The transaction’s value will be paid in the form of 3.74 million of DHC's treasury shares, representing 4.99% of its issued share capital valued at SAR 186 million, as well as a cash amount of SAR 114 million.

The agreement is subject to the approval of the relevant governmental authorities, and the approval of DHC’ general assembly.

Moreover, Dallah has entered into share purchase agreements, valued at SAR 22 million, with Abdulrahman Bin Ibrahim Abu Hemid and Sons for Trade and Investment, and Adel Abd AlMohsin Abd Alwahab to acquire a 4.08% stake in CSHC.

After the transactions are completion, DHC will own a 58.64% stake in CSHC.