Dallah Healthcare Company (SASE:4004) signed a non-binding memorandum of understanding (MoU) to acquire 54.6% stake in Care Shield Holding Company from Kingdom Investment and Development Company for approximately SAR 430 million on September 10, 2019. Under the terms of consideration, Dallah Healthcare Company has agreed to acquire a total of 6.8 million shares in the Care Shield Holding from Kingdom Investment and Development Company with a total value of SAR 300 million in consideration for (i) 3.74 million of Dallah Healthcare Company's treasury shares, representing 4.99% of the issued share capital of Dallah Healthcare Company valued at approximately SAR 190 million and (ii) a cash consideration amount equal to approximately SAR 110 million. Pursuant to the transaction, the sale and purchase of shares in Care Shield will be done by way of a share swap and cash consideration. The transaction is subject to approval of the competent authorities, Dallah Healthcare Company and Kingdom Investment and Development Company internal requirements and the completion of the due diligence process. The transaction is also subject to approval from Extraordinary General Assembly of Dallah Healthcare Company and approval of the relevant governmental authorities. If conditions are not satisfied within six months from the date of the agreement either party can terminate the contract. The memorandum of understanding shall be effective from the date it was executed between the parties and shall remain effective until December 31, 2019. As on January 1, 2020 Kingdom Investment and Development extended the memorandum of understanding to sell its shares in Care Shield for 121 days until April 30, 2020. As of May 3, 2020 the memorandum of understanding is extended with the same terms and conditions. Kingdom Holding Company announces that the memorandum of understanding effective period has been extended with the mutual consent of both parties for a further period of 15 days from April 30, 2020 until May 14, 2020. On October 7, 2020 the transaction is approved by General Authority for Competition. Aljazira Capital Company acted as the financial advisor to Dallah Healthcare.