ArabFinance: The Financial Regulatory Authority (FRA) announced that Emirates Advanced Investments bid to acquire 100% of Alexandria New Medical Center (Alex NMC), according to FRA’s statement released on June 6th.

Emirates Advanced Investments submitted the mandatory tender offer (MTO) to acquire 14,274,975 shares of Alex NMC at EGP 47.986 per each. The minimum of executing the MTO is to acquire 51% of Alex NMC shares.

Earlier, Abu Dhabi Commercial Bank (ACDB) has commenced receiving nonmandatory tender offers from some investors to purchase the bank stake in Alex MNC.

ACDB has intended to sell its 51.54% stake in Alex NMC’s capital.

Alex NMC is an Egypt-based public shareholding company engaged in the provision of medical diagnostic and treatment services in various medical fields.

The company focuses on the operation of a hospital, which consists of a range of medical specializations, including gynaecology, general surgery, and paediatrics, among others.

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