Cairo – Mubasher: Private equity firm Abraaj Group has hired EFG Hermes and Citigroup to manage the initial public offering or sale of its hospital businesses in North Africa, Bloomberg reported, citing sources familiar with the matter.

The UAE-based company will complete the procedures of either the IPO or the direct sale of the North Africa Hospital Holdings Group in the first half of 2018, sources added.

The Emirati group last announced that it would offer its stakes in healthcare and hospitals sector on a foreign stock market, on which Abraaj is weighing between London Stock Exchange (LSE) and the New York stock exchange (NYSE) for the offering.