Maharah signs agreement to acquire 90% in Spectra Support Services

Logo of Maharah Human Resources Co.

Maharah Human Resources Co. signed an agreement on April 11, 2021, to purchase 90% of Spectra Support Services Co.

The closing of the deal will be subject to the execution of pre-conditions by June 30, 2021, including the general assembly's approval, the company said in a statement to Tadawul today, April 12, 2021.

The two companies will have the option to allow more time or abandon the deal if the conditions are not executed by the above-stated date.

The costs associated with the deal include advisory fee related to the legal and financial due diligence. No material changes have occurred to these costs, the statement noted.

In December 2020, Maharah signed a non-binding agreement to acquire a majority stake in Spectra Support Services, a limited liability company.

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