Al Hammadi Company for Development and Investment (Al Hammadi) announces that on 02-08-2017 its Board of Directors has resolved to enter into preliminary discussions with National Medical Care Company (Care) to study the possibility of merging the two companies.
The company will appoint a financial advisor to study and value the merger, and also will seek other necessary external expertise if required for the best interest of alhammadi shareholders.
Entering in such discussions does not necessarily mean that the merger will happen between the two companies.
If the merger is agreed, it will be subject to various conditions including, without limitation, approvals of the relevant regulatory authorities in Saudi Arabia and the approval of the Extra Ordinary general assembly of each company.
Further announcements relating to any developments will be made in due course.