Saudi Arabia’s Ayyan Investment Company has reported a deal to purchase out all the non-controlling shares of four investors in its subsidiary Al-Ahsa Medical Services Company.
The company, that has investments in real estate, agreed on a share purchase agreement to own a combined 3.9 million shares from Al-Orthman Holding Company, Saad Abdulaziz Al-Hussein and Sons Company, Ibrahim Abdullah Al-Afaleq and Sons Company and Rashid Saad Al-Rashid, a bourse filing to the Saudi Stock Exchange (Tadawul) said on Sunday.
The stake is costed at more than 111 million riyals ($29.5 million) and shows 26.43 percent of the capital in Al-Ahsa Company.
With the deal, Ayyan Investment’s ownership in Al-Ahsa will rise to 96.37 percent of the capital. Ayyan Company’s capital will also rise to 806.4 million riyals from 737 million riyals.
In deals for the additional stake, Ayyan Investment will provide 6.9 million shares in its company to the selling shareholders of Al-Ahsa.