M&A WATCH-

#1- Dr. Soliman Abdel Kader Fakeeh Hospital plans to acquire at least 75% of Dr. Mohammad Al Fagih Hospital after signing a non-binding offer with the company’s shareholders, it said in a disclosure to Tadawul yesterday. The offer, valid for 180 days, is subject to due diligence covering operational, financial, and juridical aspects. It is also pending regulatory approvals. PwC Advisory will act as the financial advisor for the transaction, whose final valuation is set to be determined following due diligence.

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REMEMBER- Dallah Healthcare accepted a non-binding offer signed in October from Fakeeh Hospital to purchase its entire 31.21% stake in Al Fagih Hospital, according to a separate Tadawul filing. The acceptance — also valid for 180 days — is subject to due diligence, the finalization of the sale terms, and regulatory approvals. Alfa Capital was appointed as the joint financial advisor for the transaction.

#2- Ghida Al Sultan signed a non-binding MoU to fully acquire Simple Burger Catering Establishment, it said in a disclosure to Tadawul. The MoU — valid for 90 days and extendable by mutual agreement — is subject to regulatory and shareholder approvals.

#3- WSM calls off Cyber Zone takeover: WSM for Information Technology ended talks to acquire Cyber Zone for Cybersecurity after the results of a financial evaluation and due diligence did not meet its expectations, it said in a filing to the bourse yesterday. WSM had signed a non-binding MoU with Prime Capital Holding Company in August to buy 100% of Cyber Zone, and later in September received a no-notification-required certificate from the General Authority for Competition.

CAPITAL MARKETS-

KnowledgeNet’s board greenlit a plan to transition from the Nomu parallel market to the main market, it said in a disclosure to Tadawul yesterday. The board appointed Amwal Financial Company as financial advisor to handle the required procedures and submit the transfer application to the Saudi Exchange once all conditions are met.

MINING-

Saudi Aramco inked 28 MoUs worth more than USD 1 bn during the Middle East Corrosion Conference and Exhibition at Dhahran Expo, Asharq Al Awsat reported. The agreements include cooperation in research and development of advanced materials, technologies, local manufacturing, and training and development programs.

What they said: “Over the past three years alone, Aramco has invested more than USD 70 mn in corrosion management technologies, helping the company avoid costs and achieve savings exceeding USD 770 mn,” Aramco’s Executive Vice President of Technical Services Wail Al Jafaari said.

IPO WATCH-

Almuneef Co. taps financial advisor for main market transition: Almuneef Co. for Trade,Industry, Agriculture, and Contracting appointed Istidama Business Financial Company as financial advisor for its transition to the Main Market, it said in a disclosure to Tadawul yesterday. The move was approved by Almuneef’s board in September but is still pending market approval and compliance with updated Listing Rules.

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