Riyadh – Mubasher: Al Hammadi Company for Development and Investment has purchased the entire equity of the Gulf Investment Corporation (GIC) in Sudair Pharmaceuticals Company upon a memorandum of understanding signed on 9 July.
The stake represents 35% of Sudair Pharmaceuticals’ entire shares, according to a bourse filing on Sunday.
The MoU duration stands at three months, Al Hammadi said, noting that Sudair Pharmaceuticals is the owner and developer of Sudair Complex for Specialized Pharmaceutical Industries.
The listed firm did not disclose the value of the transaction.
Aldukheil Financial Group has been appointed for the evaluation works of Sudair Pharmaceutical Company on behalf of Al Hammadi.
