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Thursday, 23 November 2017

Saudi’s Elaj Group buys Alexandria International, Ibn Sina Specialized Hospital

M&A WATCH- Saudi Arabia’s Elaj Group has acquired Alexandria International Hospital and Ibn Sina Specialized Hospital, Al Mal reports citing sources close to the matter. (The latter is of no relation to Ibnsina Pharma, above). Elaj completed the transaction on Alexandria International earlier in the week, with the newspaper speculating that it had been done through over the counter transactions on the EGX over a period of a few weeks for an estimated EGP 35 mn. Elaj is planning an expansion to Ibn Sina following the acquisition.

Elaj is on something of a tear: The company acquired 74% of clinical laboratory group Cairo Labs for an estimated EGP 36 mn in October before adding to its portfolio a 15% stake in the International Eye Hospital.

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