Almajed Oud eyes regional beauty, healthcare assets in SAR 392M deal

Almajed Oud says the deal is non-binding

Almajed Oud Co. signed a non-binding offer with selling shareholders Othman Al-Suwaih, Abdullah Al-Suwaih and Amr Al-Suwaih to acquire their holdings in a group of healthcare, beauty and retail businesses across the GCC.

In a statement to Tadawul, the company said the target group has been valued at SAR 392 million, subject to adjustments for net debt, estimated at around SAR 224 million as of Dec. 31, 2025, and other terms to be agreed in a definitive agreement.

Consideration is expected to comprise a mix of cash and newly issued Almajed Oud shares. The company said its shares were valued at SAR 151.01 each based on the 90-day volume-weighted average price through June 11, 2026, for the equity portion of the transaction. The final cash-share mix has yet to be determined.

Almajed Oud added that the valuation and deal structure remain preliminary and subject to legal, financial and tax due diligence, negotiations and potential revisions. The target group may also be restructured before completion, with certain entities or assets potentially included or excluded from the final transaction perimeter.

The non-binding offer includes customary provisions, including confidentiality and a six-month exclusivity period.

The parties also agreed that each party will bear its own costs, except that the sellers will bear the costs incurred by Almajed Oud if they terminate or withdraw from the transaction before execution of the definitive agreement, subject to an agreed cap.

The offer will expire if a binding acquisition agreement is not signed within six months, unless extended by mutual agreement.

The company appointed GIB Capital as financial adviser and Khoshaim & Associates as legal adviser on the potential deal.

Almajed Oud also noted that the proposal is not binding and there is no assurance that a definitive agreement will be reached or that the transaction will be completed.

Any deal would remain subject to regulatory approvals, including the General Authority for Competition (GAC), the Capital Market Authority (CMA) for the issuance of new shares, the Saudi Exchange (Tadawul) for listing the new shares, and shareholder approval for a capital increase. The selling shareholders are not related parties.