Cairo - Mubasher: The Egyptian Financial Regulatory Authority (FRA) received a mandatory tender offer (MTO) from an alliance comprised of Tawasol Holdings for Financial Investment and Maternity And Pediatrics to acquire Alexandria Medical Services - Alexandria New Medical Center. 

The offer includes the purchase of up to 10.575 million shares or 74.08% of Alexandria Medical Services for EGP 52 per share to top up its stake to 100%, the FRA said in a statement to the Egyptian Exchange (EGX) on Monday.

Last week, the FRA received an MTO from TAT for Medical Services, a subsidiary of Alexandria Healthcare Investments, to acquire 14.27 million shares or 100% of Alexandria Medical Services. 

During the first quarter (Q1) of 2021, Alexandria Medical Services reported net profits of EGP 12.3 million, compared to EGP 5.16 million in Q1-20.