Aldawaa OKs voluntary liquidation of overseas units, transfer of their ops to Saudi Arabia

Logo of Aldawaa Medical Services Co.

Aldawaa Medical Services Co.’s board of directors issued a decision today, March 9, to deregister (voluntary liquidation) its subsidiaries outside Saudi Arabia and transfer their operations to the Kingdom.

In a statement to Tadawul, the company said the decision aims to strengthen its commitment to Vision 2030, which enhances Saudi Arabia’s leading regional position as a business hub, supports the localization of businesses, and promotes local content within the Kingdom.

The board decided to initiate voluntary liquidation procedures and deregister the commercial registrations of several companies. These include Hollinz GmbH in Germany (commercial registration No. 1-218668), Ronzac GmbH in Germany (commercial registration No. 1-218674), Glanzzen FZ- LLC in Dubai (license No. 1188), and Aldawaa Medical Services FZ-LLC in Dubai (license No. 55), with all operations to be fully closed and liquidated.

The board also decided to follow up on the regulatory status and study the necessary procedures to liquidate, deregister, or exit other subsidiaries outside the Kingdom, in accordance with the applicable laws and regulations in the relevant countries, in a manner that serves the best interests of the company and its shareholders.

The company noted that this decision aligns with its strategy to consolidate all its operations within Saudi Arabia under the company’s legal entity and the relevant regulations.

The decision will not affect the company’s financial position or operational cash flows, the statement.