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Wednesday, 8 July 2020

Al Ahly Capital reportedly aims to close El Nada Hospital acquisition within two months

M&A WATCH- Al Ahly Capital reportedly aims to close El Nada Hospital acquisition within two months: Al Ahly Capital Holding, the investment arm of the National Bank of Egypt, is in the final stages of negotiations to purchase a majority stake in maternity care-focused El Nada Hospital, the local press reports, citing unnamed sources. The agreement is expected to be signed within two months. There’s no news yet on valuation or the size of th stake Ahly is going after. The acquisition comes as part of Al Ahly’s plans to invest USD 150 mn in Egypt’s healthcare sector. CEO Karim Saada said in May that the fund intends to set up a JV with Emirati MBF Group and announced that an unnamed hospital will be its first purchase.

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