Al Hammadi Company For Development and Investment (SASE:4007) signed a memorandum of understanding to acquire a 35% stake in Sudair Pharmaceuticals Company from Gulf Investment Corporation on July 9, 2021. Duration for memorandum is three months. The transaction is subject to completion of the due diligence examination and approval from the relevant authorities.

Aldukheil Financial Group acted as financial advisor of Al Hammadi Company For Development and Investment, Sudair Pharmaceuticals Company and Gulf Investment Corporation. Aldukheil Financial Group acted as due diligence provider Al Hammadi Company For Development and Investment. Jones Day acted as legal advisor to Al Hammadi Company