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Al Hammadi Company for Development and Investment Announces the Purchase of 35% of Sudair Pharmaceuticals in the value of 118,125,000 saudi riyals

ELEMENT LIST EXPLANATION
Introduction Al Hammadi Company for Development and Investment announces the satisfaction of all the conditions of the Transaction, obtaining all required approvals and completion of all required regulatory formalities and agreed terms for transferring the Sale Shares in Sudair Pharmaceuticals Company to Al Hammadi Company for Development and Investment on 2021/11/9, including obtaining of the no objection letter in respect of the Transaction issued by the General Authority for Competition and amendment of Sudair Pharmaceuticals Company articles of association to reflect the Transaction.
Transaction Details purchase the entire Stake shares of the Gulf Investment Corporation (GIC) , which represents 35% of Sudair Pharmaceuticals Company, the owner and developer of Sudair Complex for Specialized Pharmaceutical Industries
Transaction Value 118,125,000 saudi riyals
Transaction Terms the due diligence examination of the company's financial, legal, administrative and operational conditions and Status have been completed

 

the approval of the relevant authorities have been secured

the financial valuation has been completed

Parties of the Transaction seller Gulf Investment Corporation (GIC)

 

buyer Al Hammadi Company for Development and Investment

Transaction Funding Method internal cash flow
Transaction Execution Date 2021-11-09 Corresponding to 1443-04-04
Description of the Business of the Asset forming the Subject Matter of the Transaction manufacturing of cancer treatments (oral and intravenous)
Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction 2018 not applicable as the company start the trial operations in 2019

 

 

2019 net profit of 10 million riyals

 

2020 net profit of 23 million riyals

Transaction reasons The acquisition is in line with Al Hammadi Company’s growth plans and the Kingdom’s Vision 2030 to nationalize and localize advanced industries and technologies
Expected Impact of the Transaction on the Company and Its Operations increase the sales of the pharma sector in the company
Related Parties none