Saudi Company For Hardware (SACO) [4008.SE] announced that it has acquired Medscan for SAR37mn, which was financed both internally and through Islamic bank facilities. Medscan is a limited liability company that specialises in transporting goods, logistics, and warehousing and is located eastern Saudi. Saco expects the acquisition to contribute in facilitating their operations and reduce expenses, and will likely impact the company's financials in 4Q16. Earlier in April, SACO's AGM approved the acquisition of Medscan's shares. (Tadawul)
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