Dallah Healthcare Co. (DHC) received the no-objection certificate from the Governor of the General Authority for Competition to complete the economic concentration process by acquiring shares in Makkah Medical Center Co.
The agreement is subject to a number of conditions, including obtaining approvals from the relevant government agencies, the company said in a statement to Tadawul.
Further developments will be announced in due course, it added.
According to data available with Argaam, DHC signed, on June 29, the final agreement to acquire 78.59% stake, representing 2.38 million shares, in Makkah Medical Center Co. for a total value of SAR 161.1 million.
Makkah Medical Center Hospital, owned by Makkah Medical Center Co., has a capacity of 120 beds and 40 clinics, with a possibility of future expansion.
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