Riyadh – Dallah Healthcare Company (DHC) has completed the sale and purchase of shares equal to 58.64% in Care Shield Holding Company (CSHC) on 15 November.

This comes as part of DHC's expansion plan to support its market standing in providing premium medical service, in line with its strategic objectives, according to a bourse filing on Monday.

Last May, DHC inked a share swap agreement on with Kingdom Investment and Development Company (KIDC) to acquire 6,820 million shares in CSHC from KIDC, representing 54.56% of CSHC’s share capital (the KIDC shares) with a value of SAR 300 million in consideration for 4,488 million treasury shares of DHC, representing 4.99% of the issued share capital of DHC valued at SAR 186 million (DHC Shares) and a cash sum of SAR 114 million.

In addition, DHC signed share purchase agreements with Abdulrahman Bin Ibrahim Abu Hemid and Sons for Trade and Investment, and Engineer/ Adel Abd AlMohsin Abd Alwahab AlMandeel to acquire 509,260 shares in CSHC for SAR 22 million, together the minority shares.

Hence, DHC announced that KIDC shares and the minority shares were transferred to DHC and DHC shares were transferred to Kingdom Investment through a negotiated deal.

Source: Mubasher

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