The Saudi Anaam International Holding Group Company announced the signing of a non-binding Memorandum of Understanding; To acquire a 55% stake in Arrow Industry.
Anaam Holding said in a statement published by CNBC Arabia, that the initial purchase amount for the aforementioned share is estimated at 23.5 million riyals in cash.
She explained that the work of this memorandum will continue for a period of 60 days, subject to extension with the consent of both parties, and the company aims from this acquisition to diversify its business in addition to taking advantage of the opportunities in the medical sector.< /p>
Arrow Industry manufactures medical supplies through its factory located in the third industrial area in Jeddah.
