BinDawood Holding —
BinDawood Holding Company announces the completion of the procedures for the acquisition of Zahrat Al Rawdah Pharmacies Company LLC.
| Element List | Explanation |
|---|---|
| Introduction | Reference to BinDawood Holding Company’s announcement published on 03/11/2024 corresponding to 01/05/1446 regarding the acquisition of 100% of the shares of Zahrat Al Rawdah Pharmacies Company LLC. Accordingly, the Company is pleased to announce to the shareholders the completion of the process of the acquisition of 100% of the shares of Zahrat Al Rawdah Pharmacies LLC and completing the regulatory process related to shares ownership transfer and notarizing the amended Article of Association by the Notary Public, the consideration will be paid as agreed in the Share Sale and Purchase Agreement. |
| Previous Announcement | BinDawood Holding Company announces an update on the company’s announcement regarding the signing of a share sale and purchase agreement for the acquisition of 100% of the shares in Zahrat Al Rawdah Pharmacies Company LLC by the issuance of the non-objection certificate from the General Authority for Competition. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-01-01 Corresponding to 1446-07-01 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Completing the regulatory process related to shares ownership transfer and notarizing the amended Article of Association by the Notary Public and the completion of the process of the acquisition of 100% of the shares of Zahrat Al Rawdah Pharmacies Company LLC, the consideration will be paid as agreed in the Share Sale and Purchase Agreement. |
| Reasons For The Delay on The Date of The Event Previously Announced | Not Applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | The total value of the acquisition of 100% of the shares of Zahrat Al Rawdah Pharmacies Company LLC an amount of SAR 441.1 million, the consideration adjusted as per the Share sale and purchase agreement. |
| Delay consequences on the Company’s financial results | Not Applicable |
| Additional Information | The Transaction is expected to have a positive financial impact in the long term for the Company and its shareholders.
This acquisition represents an extension of BinDawood Holding strategy and is in line with the Company Strategic vision to expand into health and wellness sector. |
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.
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Salim Patka,
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