On April 17, 2014, SPIMACO decided to increase its shareholding in CAD Middle East Pharmaceutical Industries to SAR 200 mln (from SAR 73 mln). The increase was financed by capitalizing SAR 109 million loan (owed to partners) and injecting SAR 17 mln extra financing.
|Deal Value||Method of Finance||Type||Status|
|18.63 Million USD||-||Stake||Completed|
|Saudi Pharmaceutical Indust.& Med. Appliances Corp - Pharmaceutical|
|Argaam Sector||Pharmaceuticals Suppliers|
|*Market Cap (Million SAR)||2,976.00|
|CAD Middle East Pharmaceutical Industries LLC - CAD|
|*Market Cap (Million SAR)||-|
|Expected date for Completion||17-04-2014|
CAD Middle East was incorporated in 2006. The company owns plant that produce row materials used in manufacturing of pharmaceuticals. The plan ended the trial operations in 2014. The plant met Saudi Food & Drug Authority standards before starting commercial operations.
* In 2014, SPIMACO provided SAR 18 mln interest-free loan to CAD Middle East.