Riyadh - Mubasher: Al Majed for Oud Company signed a non-binding agreement, on 13 June, to fully acquire Al Safa Pharmaceuticals and Medical Supplies, according to a statement.
The deal also involves related parties, including Othman Abdullah Othman Al Suwaih, Abdullah Othman Abdullah Al Suwaih, and Amr Othman Abdullah Al Suwaih.
Under the deal, the company aims to take over the sellers’ ownership interests in the regional business.
Targeted companies are Al Safa Pharmaceuticals and Medical Supplies, Natural Touch, UAE-based Safa Al Khaleej Trading LLC, Bahrain’s The Beauty Secrets W.L.L, Qatari Wahat Alsafa for Trading Company W.L.L, and Omani Al Safa National Investment Company LLC.
The parties approved an enterprise value of SAR 392 million, subject to reduction and adjustment based on net debt and other adjustments to be agreed upon in the definitive agreement later.
The offer will terminate if the binding acquisition agreement is not executed within six months from the announced date, unless such period is extended by agreement of the parties.
Al Majed for Oud is expected to pay cash dividends valued at SAR 100 million for 2025.
