ADCB receives additional preliminary offers for stake in Alexandria Medical Services

Mubasher: Abu Dhabi Commercial Bank (ADCB) has received two additional preliminary non-binding offers from potential investors to acquire the bank's 51.54% stake in Alexandria Medical Services - Alexandria New Medical Center.

The additional potential buyers are Nile Scan and Labs Company in Egypt and the UAE-based Global One Healthcare Holding Company, according to the company's disclosure to the Abu Dhabi Securities Exchange (ADX) on Tuesday.

The prices offered for the shares fall within the average price range of EGP 50.77 per share previously announced by the initial potential investors.

The final binding offers are expected to be submitted to CI Capital in the third week of May 2021.

It is noteworthy to mention that on 20 April, the Egyptian Financial Regulatory Authority (FRA) has received a letter from ADCB with the final list of potential buyers, including Cleopatra Hospitals Group (CHG) and Alexandria Medical Investment or any of its subsidiaries.


Mubasher Contribution Time: 04-May-2021 11:49 (GMT)
Mubasher Last Update Time: 04-May-2021 12:08 (GMT)