Fakeeh Care in talks to buy majority stake in Al-Faqih & Partners

Logo of Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care)

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Dr. Soliman Abdel Kader Fakeeh Hospital Co.’s (Fakeeh Care) board of directors, on Oct. 24, approved starting negotiations with the potential sellers in Dr. Mohammed bin Rashed Al-Faqih & Partners Co. as regards a potential acquisition of a majority stake in the latter, according to a statement to Tadawul.

 

The precise financial impact of the proposed transaction can’t be determined at present, and any material developments will be announced in due course, the statement added.

 

In a separate statement on Tadawul, Dallah Healthcare announced that it is one of the shareholders in Dr. Mohammed bin Rashid Al-Faqih & Partners Co., holding a 31.21% stake.

 

The Saudi healthcare services provider indicated that the current negotiations are still at a preliminary stage and are under review by Dallah Healthcare’s board of directors and the other shareholders of the associate company.

 

It is currently not possible to determine the outcome of these negotiations or to assess any potential financial impact, if any, on the company’s results. Dallah will disclose any material developments related to this matter in due course and in accordance with applicable regulations.

 

According to Argaam data, Dallah Healthcare had previously engaged in negotiations in 2022 with the selling shareholders of Dr. Mohammed bin Rashid Al-Faqih & Partners Co. to acquire their entire 34.4 million shares, but those negotiations ended in 2023 without reaching an agreement.