BinDawood Holding acquires Zahrat Al Rawdah; deal value changed to SAR 441.1M

BinDawood Holding Co. completed its acquisition of 100% of Zahrat Al Rawdah Pharmacies LLC for SAR 441.1 million, the company announced in a statement to Tadawul.

The final price was reduced from the initially reported figure, according to the share purchase agreement.

All regulatory procedures, including share transfer and documentation of revised articles of association, have been finalized. Payment will be disbursed as stipulated in the agreement. 

The deal is expected to have a positive financial impact on BinDawood Holding and its shareholders in the long term, the company said, noting that the deal aligns with its strategic vision for expansion in the healthcare sector.

In November 2024, BinDawood Holding acquired Zahrat Al Rawdah Pharmacies, a chain owned by UAE-based Gulf Pharmaceutical Industries (Julphar), for SAR 444.1 million, Argaam data showed.

Saudi Arabia’s General Authority for Competition (GAC) issued, in January, a no-objection on the economic concentration related to the acquisition.