Waha Capital completes sale of stake in UAE business

Abu Dhabi

Waha Capital, an Abu Dhabi-based investment company, through its UAE health care subsidiary, Anglo Arabian Healthcare (AAH), has completed the sale of its full equity stake in Proficiency Healthcare Diagnostics (PHD) to Al Borg Medical Laboratories, the company said on Wednesday.

The transaction, which was previously announced on May 21, 2017, involves an equity sale price of approximately Dh184 million for 100 per cent of PHD, with the net impact on Waha Capital being an accounting gain of approximately Dh94 million which will be recorded in the company’s fourth quarter 2017 financial statements.