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CI Capital receives two offers to acquire Alexandria NMC

CI Capital receives two offers to acquire Alexandria NMC

ArabFinance: The Financial Regulatory Authority (FRA) announced that CI Capital Holding for Financial Investments (CI Capital) (CICH) received two new offers to acquire Abu Dhabi Commercial Bank’s (ADCB) stake in Alexandria New Medical Center (ANMC), Al Borsa News reported on May 4th.

The authority noted that the initial non-binding offers have the same price range offered by other potential investors.

CI Capital will start the due diligence examination, and all offers will be submitted during the third week of May.

The authority received a letter from ADCB regarding the final list of potential purchasers. The list includes Cleopatra Hospital Company, Alexandria Medical Services, and its affiliates, and Speed Medical Group among others.

Investors offered EGP 50.77 per share for the transaction.

CI Capital posted a consolidated net profit of EGP 474.61 million in 2020, compared to EGP 541.75 million in 2019.

The diversified financial services group provides advisory on capital raising as well as mergers and acquisitions, in addition to asset management, securities brokerage, custody, and research through its investment banking platform.

 

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