Saudi competition body approves Maharah unit’s bid to buy Care Shield Holding

RIYADH: Maharah Human Resources Co.’s unit has received the General Authority of Competition’s nod to proceed with acquiring Care Shield Holding Co. on Aug 25.

Growth Avenue Co., a wholly owned subsidiary of Maharah, plans to acquire full equity of 41 percent in Care Shield, according to a bourse filing

Earlier this month, Maharah reported a 26 percent decline in first-half profits to SR52 million ($14 million).