Riyadh-Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corp. (Spimaco) on Sunday completed the procedures of acquiring 51% of Egypt-based Meivo international for Pharmaceutical Industries at a total value of SAR 74.8 million, the company said in a bourse statement.
The deal was financed from the company’s cash sources as well as outstanding banking facilities.
The relevant financial impact is likely to start materializing as of the fourth quarter of 2015, the statement added.
