|10 June, 2018

BUZZ: Saudi Arabia's National Medical Care up on private sale transaction

Company says unit of General Organization for Social Insurance (GOSI) reached non-binding agreement with NMC Health to enter private sale transaction

Shares in Saudi Arabia's National Medical Care Co. jump 7.5 pct in early trade to 60 saudi riyals ($16.00)s.

Company says unit of General Organization for Social Insurance (GOSI) reached non-binding agreement with NMC Health to enter private sale transaction. 

Transaction has Hassana Investment Co. and GOSI swapping ownership in National Medical Care Co. in return for shares in NMC Saudi Arabia Healthcare, owned by NMC Health.

Swap values shares of National Medical Care Co. at 70 riyals per share.

Saudi Arabia index .TASI sheds 0.4 pct in early trade. ($1 = 3.7501 riyals)

(Reporting by Davide Barbuscia; Editing by Saeed Azhar) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

More From Markets