Riyadh – Mubasher: Maharah Human Resources Company has inked a non-binding memorandum of understanding (MoU) to take over a majority stake in Spectra Support Services, a limited liability company.

The acquisition is in line with Maharah’s business strategy that aims at expanding into a full-fledged human capital company, according to a bourse statement on Sunday.

The MoU carries a maturity period of one year. Moreover, the transaction, which is expected to add value to Maharah and its investors, is subject to completion of financial and legal due diligence and obtaining required approvals.

KPMG Al Fozan and Partners has been appointed as the financial advisor to the transaction.