https://arab.news/9ugmq
RIYADH: Maharah Human Resources Co. has secured SR363 million ($97 million) financing from Saudi banks, following the completion of an acquisition of Saudi Medical Systems.
The long-term loans, worth SR181.5 million and SR181 million, respectively, were obtained from Al Rajhi Bank and Saudi British Bank, Maharah said in a filing to the Saudi Exchange.
“The purpose of the loans is to finance future acquisitions of the company,” it added.
In a separate filing, the company announced it had finalized the acquisition of a 40 percent stake in Saudi Medical Systems through its unit Growth Avenue Investment Co.
Established in 1996, Riyadh-based Saudi Medical Systems specializes in providing catering services to hospitals.