UAE’s Yas Holding sweetens takeover bid for Alexandria Medical Services

UAE-based Yas Holding, formerly Emirates Advanced Investments, has raised on Monday its takover offer for Alexandria Medical Services Company, also known as Alexandria New Medical Center (ANMC).

Alexandria Medical Services said in a bourse filling that Yas Holding has raised its offer to 48.62 Egyptian pounds ($2.50) a share, up from 47.98 pounds a share bid made in June 2021.

The UAE company is seeking to buy up 74.08 percent stake or 11.53 million shares of ANMC.

In late August, ANMC tapped Andersen as its financial advisor to study a takeover offer submitted by an investment firm Tawasol Holding and PE growth expansion fund LimeVest Partners.