Dallah Healthcare Company (SASE:4004) signed a non-binding memorandum of understanding to acquire an additional majority stake in Makkah Medical Center Company on February 23, 2020. The consideration will be paid in cash. On June 29, 2020, Dallah Healthcare announces the signing of a final agreement to acquire an additional 78.6% stake in Makkah Medical Center Company for approximately SAR 160 million. Dallah Healthcare will acquire 2,389,192 shares and after finalizing the transaction, DHC will be owning 86.1% of the Makkah Medical’s shares. The transaction will be financed through DHC’s internal resources in addition to local financial institutions. In 2019, total revenue amounted to SAR 110 million. The deal is subject to satisfactory completion of financial, tax, legal and commercial due diligence, obtaining shareholders approval and approval of the relevant governmental authorities, along with approval of the competent authorities. The memorandum of understanding is effective until June 30, 2020. As on October 6, 2020 the Governor of the General Authority for Competition has issued a letter in respect of a non-objection to completing the economic concentration transaction arising from the proposed acquisition of the shares in Makkah Medical Center Company. Dallah Healthcare Company (SASE:4004) completed the acquisition of 78.59% stake in Makkah Medical Center Company on December 22, 2020.