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Riyadh – Al Ahsa Development Company (ADC) announced signing a binding deal with Al-Rashid and Partners Development Limited to purchase its 16.32% stake valued at SAR 66.11 million in Al-Ahsa Medical Services.
Under the agreement, ADC will raise its stake in Al-Ahsa Medical Services to 69.94% from 53.62%, according to a statement on Wednesday.
Revenues of Al-Ahsa Medical Services stood at about SAR 180 million, SAR 196 million, and SAR 211 million in 2016, 2017, and 2018, respectively, with an average growth rate of 8.2%.
In March, ADC revealed the acquisition of 100% of Al Salam Medical Services Co through a share swap agreement.
Source: Mubasher
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