RIYADH: Saudi Mouwasat Medical Services Co. has signed a nonbinding deal to fully acquire Egypt’s Al-Marasem International Hospital.
The two parties agreed to determine the value of the final deal after completing the due diligence work, according to a bourse filing.
The memorandum is valid for three months starting May 22, subject to renewal.
The impact on the company's financial results will become apparent once the transaction is completed, said the company.
As of 10:44 a.m., shares of Mouwasat edged 0.63 percent lower at SR219.60.
Later in the day, the share price fell further to close at SR217, down 1.81 percent.
