Dubai – Mubasher: Amanat Holdings said it acquired, through an affiliate, a 35% beneficial interest in Sukoon International Holding in a deal worth SAR 179.2 million ($47.76 million), according to a bourse filing.
The Dubai-listed Amanat previously said that its investment in the Saudi healthcare firm will not exceed AED 200 million.
The UAE healthcare and education firm recently reported a net profit of AED 1.6 million and total comprehensive income of AED 15.1 million for the first half of 2015.
“Amanat’s development and investment strategy is to partner with companies that demonstrate a strong shareholder base, proven management and differentiated business model. Sukoon’s shareholders include highly reputed and prominent investors with whom we are very pleased to partner alongside and look forward to being a long-term strategic partner,” said Amanat chairman Faisal Belhoul.
