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Tuesday, 5 May 2020

Al Ahly Capital to enter healthcare sector with hospital purchase

M&A WATCH- Al Ahly Capital to enter healthcare sector with hospital purchase: Al Ahly Capital Holding, the investment arm of the National Bank of Egypt, is closing in on the acquisition of an unnamed specialized hospital, CEO Karim Saada told Al Mal. The acquisition comes as part of Al Ahly’s plans to invest USD 150 mn in the sector, Saada said, without disclosing the value of the transaction. Al Ahly said in March it plans to set up a JV with Emirati MBF Group to invest in Egypt’s healthcare sector and that its inaugural transaction would be the purchase of a hospital.

Education investments are also on the horizon: Al Ahly Capital is planning to enter the education market with the purchase of a university and a school later in the year, Saada told the newspaper without providing further details. The investment bank is also looking at the non-banking financial sector, and is mulling either buying an existing company or going in greenfield.

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