Al Maha Ceramics SAOG (MSM:AMCI) entered into a sales and purchase agreement to acquire 45% stake in Al Hael Company LLC for 2.1 million on May 30, 2022. it was agreed that Al Maha Ceramics will manage and operate Al Hael factory for a period of 5 years. it was also agreed that Ai Maha brand will be used in Al-Hael products during the nest five years. The transaction is subject to approval from Competition Authority.

Al Maha Ceramics SAOG (MSM:AMCI) completed the acquisition of 45% stake in Al Hael Company LLC on August 24, 2022. Al Maha will manage and operate Al Heal factory for the next 5 years as per the management agreement.