Egypt's Nile Scan bids to acquire majority stake in Alex NMC

Nile Scan isn’t in talks to partner with a rival consortium on the acquisition, Managing Director Tarek Moharram said

  
A trader works at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

A trader works at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

REUTERS/Mohamed Abd El Ghany
 

Egypt - Nile Scan is bidding to acquire a majority stake in Alexandria New Medical Center (Alex NMC), Nile Scan Managing Director Tarek Moharram told Enterprise.

Nile Scan isn’t in talks to partner with a rival consortium on the acquisition, Moharram said. It looks to be planning to bring Alex NMC under a newly launched investment platform.

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 board of directors approved the capital increase by EGP 10.381 million distributed on 1.298 million shares.

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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