Kingdom Holding extends MoU with Dallah to sell Care Shield stake
Kingdom Holding Co.’s subsidiary, Kingdom Investment and Development Co., extended the memorandum of understanding (MoU) to sell its shares in Care Shield Holding Co. to Dallah Healthcare Co. for 121 days until April 30, 2020.
The MoU was extended with the same terms and conditions, the company said in a bourse statement.
In September, Kingdom Holding said that one of its subsidiaries signed a non-binding MoU to sell its shares in Care Shield Holding Company to Dallah Healthcare Company through share swap and cash consideration.
Kingdom Investment and Development Company, which owns shares in Care Shield Holding Company, was proposing to sell its stake against shares in Dallah Healthcare and cash.