ADCB receives two more offers to acquire its stake in Alexandria Medical Services

Abu Dhabi Commercial Bank (ADCB) said on Tuesday it has received two additional preliminary non-binding offers from potential investors to acquire the bank’s 51.54 percent stake in Alexandria Medical Services – Alexandria New Medical Center.

The additional potential buyers are Nile Scan and Labs Company in Egypt and the UAE-based Global One Healthcare Holding Company, the bank added said in a disclosure to the Abu Dhabi Securities Exchange (ADX).

The prices offered for the shares fall within the average price range of  50.77 Egyptian pounds ($3.24) per share previously announced by the initial potential investors.

The final binding offers are expected to be submitted to CI Capital in the third week of May 2021.

On April 20, the Egyptian Financial Regulatory Authority (FRA) has received a letter from ADCB with the final list of potential buyers, including Cleopatra Hospitals Group (CHG) and Alexandria Medical Investment or any of its subsidiaries.