AYYAN shareholders approve sale of shares in Al-Salam, Al-Ahsa to Dallah

Logo of AYYAN Investment Co.

AYYAN Investment Co.’s shareholders approved, during the ordinary general meeting (OGM) held on March 12, selling all shares in its subsidiaries Al-Ahsa Medical Services Co. and Al-Salam Medical Services Co. through a single transaction.

The deal includes the sale of all shares owned by AYYAN in Al-Ahsa (97.41% of its capital) and Al-Salam (100% of its capital) to Dallah Healthcare Co.

According to a statement to Tadawul, AYYAN pointed out that this sale is in exchange for non-cash compensation, represented by the issuance of new shares by Dallah in favor of AYYAN.

These shares will represent 3.83% of the Dallah’s capital after the capital increase. Additionally, there may be a cash consideration due to any of the two parties under specific conditions outlined in the acquisition and subscription agreement.

For more news and details on M&As