Al Hammadi, Sudair Pharma extend MoU for potential acquisition
Al Hammadi Company for Development and Investment [4007.SE] extended its memorandum of understanding (MoU) for the acquisition of an equity stake in Sudair Pharma (under the same conditions) until 31 Aug 2018. The acquisition is part of Al Hammadi’s growth plans and is in line with the Saudi Vision 2030 goal to nationalise advanced industries and technologies. The two companies initially signed a two-month MoU on 21 Apr 2018.
Al Hammadi Company For Development and Investment : SAR33.40 as of 21 Jun. 2018, Rating: Buy, TP: SAR45.00/share, MCap: USD1,069mn, ALHAMMAD AB/4007.SE
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