Saudi Company for Hardware — M&A Activity 2016

Mar 14, 2016

ADDENDUM ANNOUNCEMENT FROM SACO RELATED TO SIGNING A MEMORANDUM OF UNDERSTANDING TO ACQUIRE MEDSCAN TERMINAL COMPANY.

4008 · 14/03/2016 15:59:59 · Announcement #41633 · View on Saudi Exchange

ADDENDUM ANNOUNCEMENT FROM SACO RELATED TO SIGNING A MEMORANDUM OF UNDERSTANDING TO ACQUIRE MEDSCAN TERMINAL COMPANY.

Further to the company announcement of signing a memorandum of understanding to acquire Medscan Terminal Company Ltd. on 28-10-2015, Saudi Company for Hardware (SACO) announces that on 14-03-2016 the final acquisition price has been determined with the owners of Medscan Terminal Company Ltd. for an amount of SAR 37 Million in return of acquiring all shares of the Company. This transaction will be submitted to the General Assembly for approval before initiating procurement procedures, The financing of this acquisition will be through self-financing and Islamic bank facilities agreement.

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