Al Hammadi Holding — M&A Activity 2018

Apr 22, 2018

Al Hammadi Company for Development and Investment announces the signing of a memorandum of understanding with Sudair Pharma Company for acquisition of equity stake.

4007 · 22/04/2018 08:14:15 · Announcement #50332 · View on Saudi Exchange

Al Hammadi Company for Development and Investment announces the signing of a memorandum of understanding with Sudair Pharma Company for acquisition of equity stake.

Al Hammadi Company for Development and Investment (Al Hammadi) announces the signing of a Memorandum of Understanding (MOU) on saturday 05 Shaban 1439 corresponding to 21 april 2108 with Sudair Pharma Company (the Target Company), an owner and developer of a specialized pharmaceutical manufacturing complex to explore the opportunity for Al Hammadi to acquire an equity stake in the Target Company.

It is important to note that Al Hammadi Company and its Board of Directors have no direct interest in this transaction. The transaction, including the final price, is subject to the outcome of the financial, legal due diligence, and any other studies which Al Hammadi considers relevant to the transaction, in addition to obtaining any regulatory approvals. The term of the MOU is two (2) months from the date of signing the MoU 21 April 2018 and will end on 20 june 2018 . The MoU term may be extended on mutual agreement in writing between both parties.

The cancer drugs manufacturing plant represents the first stage of Sudair Pharma complex, which is the largest pharmaceutical project specialized in the manufacturing of cancer treatments (oral and intravenous) in Saudi Arabia. The project is located on an area of 77 thousand square meters, and includes research centers, a training academy and administrative buildings.

The acquisition is in line with Al Hammadi's growth plans and the Kingdom Vision 2030 to nationalize advanced industries and technologies, as well as to provide Al Hammadi with an opportunity to capitalize on the significant growth potential of the manufacturing and distribution of specialized drugs.

Al Hammadi will announce in due course any further developments related to the transaction.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.