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Publication Date<br />

Headline<br />

Outlet<br />

URL<br />

04-Feb-2018<br />

2 major Saudi hospitals eye JP Morgan, Goldman Sachs for merger<br />

4-traders<br />

Click to open<br />

Snippet Care 4005 -3.77% 48.19 -1.89<br />

Al Hammadi 4007 -2.29% 38.78 -0.91<br />

Riyadh – Mubasher: Saudi Arabia-based Al Hammadi Company for Development and<br />

Investment is said to be planning to appoint Goldman Sachs Group as an advisor for its<br />

merger with National Medical Care in the coming period. National Medical Care is said to be<br />

looking to appoint JP Morgan Chase for managing the transaction, informed sources told<br />

Bloomberg on Sunday.<br />

In August, discussions began between the two Saudi firms regarding the proposed merger,<br />

which if completed would result in a company with $1.9 billion in market value.<br />

“Mergers and acquisitions in Saudi Arabia are set to pick up as slower economic growth<br />

encourages more tie-ups between firms, and new takeover rules are poised to make it<br />

easier to do deals,” according to the <strong>news</strong> agency.<br />

Al Hammadi’s stock last fell 2.29%, closing Thursday at SAR 38.60.<br />

In November, Jabal Omar Development Co. said it was in talks over a possible merger with<br />

Umm Al Qura Development and that it had hired Goldman Sachs to advise on the deal.<br />

Similarly, Saudi British Bank (SABB), which 40% owned by HSBC Holdings, is reportedly in<br />

merger talks with Alawwal Bank.<br />

Both Al Hammadi Company for Development and Investment and National Medical Care<br />

Co. are listed on the Saudi Stock Exchange (Tadawul). No official statements regarding the<br />

merger have been made.<br />

Source: Mubasher<br />

(c) 2018 All Rights Reserved - Mubasher Info 2005 - 2017 Provided by SyndiGate Media<br />

Inc. (Syndigate.info)., source & North African papers

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