Riyadh – Mubasher: Maharah Human Resources Company signed a non-binding memorandum of understanding (MoU) to acquire a 90% majority interest in Spectra Support Services Company.

The MoU was concluded on 11 April, while a pre-conditions period will be granted to both parties until 30 June 2021, according to a disclosure to Tadawul on Monday.

In December 2020, the company announced its intention to take over a majority stake in Spectra Support Services.

Maharah, meanwhile, posted an annual decline of 34.8% in net profits to SAR 177.32 million during 2020.