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Tuesday, 3 November 2020

Al Ahly Capital acquires El Nada Hospital

M&A WATCH- Al Ahly Capital has reportedly completed its acquisition of 100% of healthcare player Cairo West, which owns El Nada Hospital, Al Mal reports, citing what it said are sources in the know. Al Ahly — the investment arm of the National Bank of Egypt — purchased the company from a group of doctors and individual investors in an OTC transaction on the EGX. A formal announcement with more details should be out “within days,” the sources said. Earlier reports had suggested that the transaction, which was said to be worth EGP 300 mn, was due to close towards the end of October. Al Ahly is planning to establish a health-focused holding company, and has reportedly already received offers from local and international investors to participate.

Advisors: Our friends at investment bank Pharos’ brokerage arm executed the share transfer on the EGX, while ALC Alieldean, Weshahi & Partners acted as legal counsel.

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