Al Hammadi to acquire GIC’s 35% stake in Sudair Pharmaceutical

11/07/2021 Argaam

Al Hammadi Company for Development and Investment's building

Al Hammadi Company for Development and Investment inked an agreement to acquire Gulf Investment Corporation’s (GIC) 35% stake in Sudair Pharmaceutical Company (SPC), the company said in a bourse filing.

 

Under the three-month agreement, both parties will finalize the due diligence process.

 

Al Hammadi named Aldukheil Financial Group as the deal financial advisor.

 

The agreement included no related parties and is subject to the regulatory approvals.

 

SPC is the owner and developer of Sudair Complex for Specialized Pharmaceutical Industries.

 

The cancer drugs plant represents the first stage of Sudair Pharmaceuticals complex, which is considered the Kingdom’s largest pharmaceutical project for the manufacturing of oral and intravenous cancer treatments.

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