The bank had previously gotten offers from Nile Scan and Labs Company in Egypt and UAE-based Global One Healthcare Holding Company
Alexandria Medical Services is receiving a lot of attention as the Abu Dhabi Commercial Bank (ADCB) received a binding offer from TAT for Medical Services to acquire 51.54 percent of their stake in Alexandria Medical Services - Alexandria New Medical Center.
The bank had previously gotten offers from Nile Scan and Labs Company in Egypt and UAE-based Global One Healthcare Holding Company.
Cleopatra Hospitals Group is also a potential buyer, after setting its sights on Alex Medical after closing the chapter on its acquisition of Alameda Healthcare which fell through mid-May.
TAT for Medical Services, a subsidiary of Alexandria Healthcare Investments, submitted the binding offer to acquire ADCB's shares through a mandatory tender offer (MTO) for up to 100 percent.
The offer would buy Alexandria Medical Services' shares at a total value of LE 650 million, with price per share valued at LE 45.53.
ADCB added that share value will be reduced in the event that the company’s issued capital increase of the bonus shares is implemented before mandatory purchase offer is executed.
The offer is subject to required regulatory approvals for the MTO, including the approval of the Ministry of Health and Population and the Financial Regulatory Authority (FRA).
