Dallah accepts non-binding offer to sell stake in Al-Faqih & Partners

Dallah plans to sell stake in Al-Faqih & Partners to Fakeeh Care

Dallah Healthcare Co. accepted on Nov. 10 a non-binding offer (NBO) submitted by Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) to purchase its entire 31.21% stake in Dr Mohammad bin Rashed Al-Faqih & Partners Co. for a cash consideration.

The company said in a statement to Tadawul that both parties agreed on an initial valuation.

The final transaction value will be determined after Fakeeh Care completes the necessary studies and due diligence procedures.

The NBO is effective from the date it was signed and will remain valid for 180 days unless both parties agree otherwise in writing.

There are no related parties to the deal, the company added.

The company stated that there is currently no material financial impact, as the offer is non-binding. It will participate in negotiations on the final binding terms for signing the share purchase agreement and will obtain the necessary approvals to complete the deal.

Alpha Capital was appointed as joint financial advisor by the selling shareholders of Al-Faqih & Partners, including Dallah Healthcare.

The company highlighted that the offer is non-binding, and that any potential transaction depends on reaching a final binding agreement, with material developments to be announced in accordance with regulations.