Maharah Human Resources Company (“Maharah”) announces the latest updates regarding the MOU signed by its 100% owned subsidiary - Growth Avenue Investment Company (“GAG") - with owners of Alshifa Alrabia Medical Company (“Alshifa”) to acquire 85% of equity in Shifa
| Element List | Explanation |
|---|---|
| Introduction | Reference is made to the announcement of Maharah Human Resources company (“Maharah Company”) published on the Tadawul website on 03-05-1443 AH corresponding to 07-12-2021 AD regarding the Growth Avenue Investment Company (“GAG") - 100% owned by Maharah Company - signed the sale and purchase agreement on 02-05 -1443 AH corresponding to 06-12-2021 AD to acquire 85% of the ownership stakes in Shefa Arabia Medical Company ("Shefa Company")
Maharah Company announces that Growth Avenue Investment Company (“GAG") received the General Authority of Competition’s non-objection statement on completing the process of economic concentration between Growth Avenue Investment Company (“GAG") and Shifa Arabia Medical Company on03-06-1443H corresponding to 06-01-2022 G. |
| Previous Announcement | Signed a sales and purchase agreement acquire 85% of equity in Alshifa Medical company. |
| Date of Previous Announcement on Tadawul's Website | 2021-12-07 Corresponding to 1443-05-03 |
| Percentage of fulfilled achievement | 100% |
| Event's Expected Completion Date | Not Applicable |
| Reasons for Exceeding the Announced End Date | Not Applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | None |
| Impact of the Delay on the Company's Financial Results | Not Applicable |
| Additional Information | Maharah Company announces that Growth Avenue Investment Company (“GAG") received the General Authority of Competition’s non-objection statement on completing the process of economic concentration between Growth Avenue Investment Company (“GAG") and Shifa Arabia Medical Company on 03-06-1443H corresponding to 06-01-2022 G.The closure of the transaction and transfer of shares is subject to approvals of the relevant authorities. Maharah will announce any future development in due course. |
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