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Wednesday, 29 November 2017

Egyptian, Spanish funds in talks to acquire majority stake in Cairo Scan

M&A WATCH- Egyptian, Spanish funds in talks to acquire majority stake in Cairo Scan: Two unnamed private equity firms, one each from Egypt and Spain, are in talks to jointly acquire a majority stake in radiology provider Cairo Scan from Chairman and Managing Director Mohamed Abdel Wahab, sources close to the matter tell Al Mal. Abdel Wahab holds more than 40% of Cairo Scan, the sources said, refusing to provide further details. They added, however, that both funds intend to split the shares evenly once the transaction complete and are willing to buy up to 100% of Cairo Scan if other shareholders were to agree. Talks are expected to wrap up by year’s end. The potential transaction is the latest in a string of transactions in the industry, most prominently including an acquisition spree by Saudi Arabia’s Elaj Group.

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