Riyadh – Mubasher: Growth Avenue Investment Company (GAG), a subsidiary of Maharah Human Resources Company, has received on 6 January a non-objection statement from the General Authority of Competition to proceed with the equity acquisition of Alshifa Medical Products Company.
GAG intends to acquire 85% in Alshifa, meanwhile, the completion of the transaction and shares transfer will be subject to approvals of all relevant authorities, according to a bourse disclosure on Sunday.
Maharah will announce to its shareholders any future developments in due course.
On 6 December 2021, GAG signed a sale and purchase agreement to acquire the potential equity.
The subsidiary had penned a memorandum of understanding (MoU) in September to complete all financial, legal due diligence, and required approvals for the takeover process.
