Alexandria Medical Services seeks to acquire Rakoda Hospital

PHOTO

Egypt - Alexandria Medical Services Company aims to acquire Rakoda Hospital.

The company’s board of directors decided to appoint an independent real estate assessor to determine the fair market value of the hospital in the framework of studying the opportunity to acquire it.

The Tawasoll Holdings and Lime Vest Partners alliance acquired 70.17% of the total shares of Alexandria Medical Services after buying the share of Abu Dhabi Commercial Bank (the main shareholder) accounting for about 45% of the company’s total shares. The alliance already owned a share of about 26%.

About 109.27 million shares of the company’s shareholders responded to the purchase offer at the last session, at a value of EGP 535.4m, and the offered shares represent 94.71% of the shares targeted by the offer.

Prime Securities Brokerage Company played the role of a broker on both sides of the deal, the seller and the buyer, while Prime Capital played the role of the financial advisor to the buyer.

The consortium was seeking to collect about 11.53 million shares, or 74.08% of the shares of the new medical centre, with a minimum implementation rate of 51%.