DUBAI: Saudi Arabia’s Ayyan Investment Company agreed to acquire a stake in Al-Ahsa Medical Services Company in an all-share deal.
Ayyan struck a share purchase agreement with a quartet of investors in the medical firm to acquire their collective 26.43 percent stake, it said in a stock exchange filing on Sunday. They will receive new stock in Ayyan Investment Company in return.
The four shareholders are Al-Othman Holding Company, Saad Abdulaziz Al-Hussein and Sons Company, Ibrahim Abdullah Al-Afaleq and Sons Company and Rashid Saad Al-Rashid.
The deal will see the share capital of Ayyan Company increase to about SR806.4 million ($214.7 million) from about SR737.3 million and it will own about 96.4 percent of Al-Ahsa following completion of the transaction.
