A subsidiary of “Maharah” signs an agreement to acquire 85% of “Shifa Arabia Medical”

The Maharah Company announced today Tuesday that Path of Growth Investment Company, which is 100% owned by it, signed a sale and purchase agreement yesterday to acquire 85% of the ownership stakes in Shefa Arabia Medical Company.

The company stated in a statement to the Saudi “Tadawul” that the closing of the deal and the transfer of the shares are subject to regulatory approvals, including approval from the General Competition Authority, and any developments will be announced in a second time.

Maharah’s net profit decreased in the third quarter of 2021 by 25.9% to 35.6 million riyals, compared to a profit of 48.11 million riyals in the same quarter of the previous year.

On a quarterly basis, the company’s earnings fell 8% in the third quarter, compared to a loss of 38.7 million riyals in the second quarter of 2021.

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