AYYAN Investment Co.’s board of directors started talks to acquire stakes held by non-controlling shareholders in 69.9%-owned subsidiary Al Ahsa Medical Services Co., the company said in a bourse filing.
AYYAN will also negotiate the method of financing the acquisition deal, it noted.
The company will make an announcement in due course following the signing of a memorandum of understanding with the subsidiary's shareholders.
The financial impact of the deal cannot be determined currently.
However, AYYAN did not specify the size of the stake to be acquired in the subsidiary.
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