Al Hammadi gets GAC nod to buy 40% stake in Wareed Medical

09:36 AM (Mecca time) Argaam
Al Hammadi says financial impact to be assessed after transaction is complete

Al Hammadi says financial impact to be assessed after transaction is complete

Al Hammadi Holding Co. received a “No Notification Required” certificate from the General Authority for Competition (GAC) for its acquisition of a 40% stake in Wareed Medical Co. (a limited liability company).

 

The company stated on Tadawul that it is in the process of completing the necessary contractual and regulatory procedures to amend Wareed Medical’s articles of association.

 

It added that the financial impact of the transaction on the company and its operations will be assessed after completion, and any material developments will be announced in due course.

 

According to Argaam data, Al Hammadi signed in December a subscription agreement to acquire a 40% stake in Wareed Medical for SAR 113 million.

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