Cairo – Mubasher: Tawasol Holdings for Financial Investments purchased 1.37 million shares in Alexandria Medical Services - Alexandria New Medical Center for EGP 67.24 million or an average price of EGP 49 per share.
Accordingly, Tawasol Holdings’ ownership in Alexandria New Medical Center rose to 34.73% from 25.92%, according to a bourse statement on Sunday.
In a separate filing, the Egyptian Exchange (EGX) said LimeVest Partners acquired a 61.63% stake in Alexandria New Medical Center, buying 9.55 million shares at a value of EGP 468.17 million or an average share price of EGP 49.
Prime Securities acted as a broker in the two transactions.
Last Thursday, a mandatory tender offer (MTO) was carried out on 10.92 million of Alexandria New Medical Center issued shares at a value of EGP 535.42 million.
In August 2022, Egypt’s Financial Regulatory Authority (FRA) agreed to publish the disclosure form of the purchase offer submitted by LimeVest and Tawasol to acquire Alexandria New Medical Center.
The acquisition would give the LimeVest-Tawasol consortium 100% ownership.
During the first half (H1) of 2022, Alexandria New Medical Center generated EGP 11.03 million in profits, compared to EGP 27.70 million in the corresponding period in 2021.
