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Tuesday, 28 April 2020

Ezdehar seeks minority stake in Al Taisier Medical -sources

M&A WATCH- Ezdehar Egypt Mid-Cap Fund is looking to acquire a minority stake in Al Taisier Medical Holding Group, writes Al Mal, citing sources familiar with the matter. The private equity outfit is still carrying out due diligence and has not yet come to an agreement on the stake size or final valuation.

Al Taisier is pushing ahead with its EGP 700 mn expansion plan despite the disruption caused by the covid-19 pandemic and is said to be in talks with several foreign funds and investors for financing and potential stake sales, the sources said. It has begun construction on an EGP 200 mn upgrade to its Zagazig Hospital, which will expand capacity by an additional 90 beds. The company is also looking to expand out of Sharqia, raising EGP 150 mn in fresh capital last year to build a new hospital on the Banha-Mansoura road.

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