Cairo – Mubasher: Cleopatra Hospitals Group (CHG) has submitted a request to the Egyptian Financial Regulatory Authority (FRA) to make a mandatory tender offer (MTO) for 100% of the shares of Alexandria Medical Services - Alexandria New Medical Center.
The offer includes the acquisition of 14.274 million shares or 100% of Alexandria Medical Services for EGP 550 million or EGP 38.53 per share, the FRA said in a statement to the Egyptian Exchange (EGX) on Monday.
The offer is still under consideration by the FRA.
In a separate statement, CHG said that the board of directors approved the signing of a loan agreement worth EGP 371 million with Ahli United Bank-Egypt.
During 2020, CHG reported net profits of EGP 297.6 million, up from EGP 265.35 million in 2019, including minority shareholders’ rights.
