Cairo – Mubasher: Egypt’s Financial Regulatory Authority (FRA) has agreed to publish the disclosure form of the purchase offer submitted by LimeVest Partners and Tawasol Holdings for Financial Investments to take over Alexandria Medical Services - Alexandria New Medical Center.

The offer includes purchasing up to 11.53 million shares or 74.08% of the shares of Alexandria New Medical Center at a price of EGP 47.67 per share, according to a stock exchange statement on Monday.

The acquisition would give the LimeVest-Tawasol consortium 100% ownership.  

In June 2021, the FRA received a mandatory tender offer (MTO) from an alliance comprised of Tawasol Holdings and Maternity and Pediatrics to acquire  Alexandria New Medical Center. 

The offer included 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%.

During the first half (H1) of 2022, Alexandria New Medical Center generated EGP 11.03 million in profits, compared to EGP 27.70 million in the corresponding period in 2021.