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Sunday, 21 June 2020

Cleopatra denies Alameda merger happening this week

M&A WATCH- Cleopatra denies Alameda merger happening this week: The EGX-listed Cleopatra Hospital Group last week dismissed reports that its planned merger with Alameda will take place this week, according to a regulatory disclosure (pdf). The local press reported last week that the Egyptian Competition Authority will not seek to block the move after its investigation concluded that the merger will not negatively impact market competition. Sources at the watchdog said that this makes it likely that the transaction will be finalized this week.

Background: Cleopatra owns six major hospitals in Greater Cairo. Alameda is a partnership between chairman Dr. Fahad Khater and the Emirates’ KBBO Group. It owns high-profile facilities including As-Salam International and Dar Al Fouad. The two healthcare players have been in talks since February to merge and become the single largest private-sector healthcare service provider in Egypt.

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