Tawasol Holding seeks to shift to full ownership of Alexandria Medical Services

Alexandria Medical Services – Alexandria New Medical Centre (ANMC) said on Wednesday it had received a takeover bid of up to 100 percent of the shares from Tawasol Holding.

Tawasol Holding seeks to boost its stake in Alexandria Medical Services from 25.92 percent to 100 percent, according to ANMC bourse filling.

Tawasol is offering to acquire 74.08 percent or 10.57 million shares in ANMC for 38.09 Egyptian pounds ($2.44) per share.

Abu Dhabi Commercial Bank PJSC is a majority shareholder in ANMC, having 51.545 percent stake.

In November, Tawasol acquired 25.92 percent stake or 3,700,000 shares in ANMC for 24.30 pounds per share.