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Cleopatra Hospitals among 3 parties to submit offers ADCB's stake in AMS
Alyaa Stohy Published in Daily News Egypt on 11 - 04 - 2021

A source has revealed that the Abu Dhabi Commercial Bank (ADCB) has received three offers for its 51% stake in the Alexandria Medical Services – Alexandria New Medical Center (AMS).
CI Capital, the advisor for the Emirati bank, has received three official offers, including from Cleopatra Hospital Co (CLHO EY). The other two interested parties include an alliance comprising of Tana Capital and Al Asafra Hospitals, and a consortium consisting of Tawasol Holdings and Speed Hospitals.
Sources stated that CLHO has appointed EFG Hermes as the financial advisor for the transaction.
The Tana Capital-Al Asafra Hospitals alliance has estimated the fair value of Alexandria Medical Services at around EGP 650m, and has hired Zilla Capital as the advisor on the transaction.
Meanwhile, the Tawasol Holdings consortium has estimated the fair value of Alexandria Medical Services at more than EGP 650m, appointing Prime Capital as the financial advisor.
In December 2020, ADCB had purchased the 51.5% stake in AMS for EGP 275m as a settlement for the bank's dues with BR Shetty, the founder of NMC Health. ADCB announced its intentions to sell the stake in March 2021.

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