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25-Jun-2018

Al Hammadi ends merger talks with Care

Al Hammadi Company for Development and Investment [4007.SE] has discontinued merger discussions with National Medical Care Co. [4005.SE]. The decision was taken as a result of the potential change in the ownership structure of Care, which was announced on 7 June, whereby Hassana Investment Co. (a subsidiary of the General Organization for Social Insurance, Care’s main shareholder) reached a non-binding agreement with NMC Health PLC [NMC.L] to enter into a private sale transaction. The agreement will see Hassana and GOSI swapping their ownership in the National Medical Care Company, in return for shares in NMC Saudi Arabia Healthcare, a company owned by NMC Health PLC. 
 
Al Hammadi Company For Development and Investment: SAR33.55 as of 24 Jun. 2018, Rating: Buy, TP: SAR45.00/share, MCap: USD1,074mn, ALHAMMAD AB/4007.SE
 
 

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