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Maharah’s unit obtains GAC’s approval on Care Shield acquisition

Maharah’s unit obtains GAC’s approval on Care Shield acquisition
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Riyadh – Mubasher: Maharah Human Resources Company said its fully-owned subsidiary, Growth Avenue Investment Company (GAC), received a certificate of "no obligation to report" from the General Authority of Competition (GAC) regarding the acquisition of a 41.36% stake in Care Shield Holding Company.

Hence, parties to the transaction can proceed with the takeover process after satisfying all conditions precedent to closing, according to a bourse disclosure on Sunday.

Recently, Maharah’s GAC penned a sale and purchase agreement with El Seif Commercial Investment Company Limited and Saudi Medicare Company Limited to buy their full equity in Care Shield Holding.

Further updates on share transfer will be announced accordingly, Maharah said.