Maharah subsidiary gets GAC no-objection on acquisition deal

30/06/2022 Argaam
Logo ofMaharah Human Resources Co.

Logo of Maharah Human Resources Co.

Maharah Human Resources Co.’s wholly-owned subsidiary, Growth Avenue Co., obtained the General Authority for Competition’s (GAC) approval on the economic concentration related to the acquisition of Saudi Medical Systems Co. (SMS), according to a bourse filing.  

 

The deal is expected to be finalized by Aug. 15, the statement added. 

 

In March, Growth Avenue inked a non-binding memorandum of understanding (MoU) with SMS shareholders to acquire 40% of their shares in the company. 

 

SMS, a Saudi closed joint stock company, was established in 1996 and specializes in providing catering services to hospitals.

 

For More Mergers and Acquisitions

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