The Egyptian Financial Supervisory Authority (EFSA) said it approved a takeover bid received from Credit Healthcare Ltd for 2.7 million shares, or 100% of Cairo Medical Center at EGP 75 each, totaling EGP 202.5 million. The deal’s value may be paid in the US dollar as per the choice of every shareholders.
On February 23, 2014, Cairo Medical Center had received a letter from Credit Healthcare, which included an initial plan to make a mandatory tender offer for up to 100% of the company’s shares.