Al Hammadi Company For Development and Investment (SASE:4007) signed a memorandum of understanding to acquire a 35% stake in Sudair Pharmaceuticals Company from Gulf Investment Corporation on July 9, 2021. Duration for memorandum is three months. The transaction is subject to completion of the due diligence examination and approval from the relevant authorities. Aldukheil Financial Group acted as financial advisor of Al Hammadi Company For Development and Investment, Sudair Pharmaceuticals Company and Gulf Investment Corporation. Aldukheil Financial Group acted as due diligence provider Al Hammadi Company For Development and Investment. Jones Day acted as legal advisor to Al Hammadi Company

Al Hammadi Company For Development and Investment (SASE:4007) completed the acquisition of a 35% stake in Sudair Pharmaceuticals Company from Gulf Investment Corporation for approximately SAR 120 million on November 9, 2021. The completion of the due diligence of the financial, legal, administrative and operational conditions. The approvals of all relevant authorities have been secured and the financial valuation has been completed.