Saudi Arabia’s Mouwasat signs MoU to acquire Egypt’s Al-Marasem International Hospital

Saudi Arabia-based Mouwasat Medical Service Company (Mouwasat) announced on Sunday that it has concluded a not obliged memorandum of understanding (MoU) to buy 100 percent of the entire stakes of Al-Marasem International Hospital in Egypt.

The two parties agreed to determine the value of the transaction after the completion of the due diligence work, Mouwasat said in a disclosure to Saudi Tadawul on Monday

The MoU entered into effect on the signing date and it is valid for three renewable months.

The deal aims to define the framework of understanding on the primary mutual obligations and rights between the two parties regarding the acquisition process.