"Jamjoom" Saudi Arabia acquires a pharmaceutical factory in Algeria.

 

The "Jamjoom" Pharmaceutical Company announced an increase in the capital of its joint project in Algeria, with the purpose of partially financing the acquisition of a pharmaceutical factory.

The company affirmed in a statement to "Tadawul" in Saudi Arabia today, Monday, that the joint project, named "Jamjoom Algeria Pharmaceuticals," is effectively owned by the company with a 49% stake in the capital.

It added that the purpose of raising the capital is to finance a portion of the acquisition value of an existing pharmaceutical factory in Algeria and to cover operational costs.

The statement indicated that the joint venture company "Jamjoom Algeria Pharmaceuticals" was established between "Jamjoom" Pharmaceutical Company and the Algerian partner, "Dawa Investment S.I.R.L," which is now fully owned by "D.A. Vital Care for Production, Distribution, and Logistics" company.