The Governing Council of the Saudi Pharmaceutical Industries and Medical Appliances, "SPIMACO" announced at in its meeting yesterday its approval of the offer by a US company listed on the New York Stock Exchange in the United States to acquire its stake in one of the foreign investments of the company. The company said in a statement today that the work is underway to complete the approval required to complete the deal, and that in the event that the transaction is completed, the realized gain of the company is estimated at SR 150 million, and will show its impact during the second quarter of 2015. The company also announced its agreement to make a binding offer to acquire a stake of 51% of the Egyptian Mevo International Corp. for Pharmaceutical Industries for SR 72.3 million, noting that it will complete all legal procedures to complete the deal, and that the funding will be from the self-company resources in addition to loans.