Back to the complete issue
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.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.