Cleopatra submits MTO for 100% of Nozha International Hospital

M&A WATCH- Cleopatra submits MTO for 100% of Nozha International Hospital: Cleopatra Hospitals Group has filed for Financial Regulatory Authority approval of a mandatory tender offer to acquire 100% of Heliopolis’ 110-bed Nozha International Hospital, according to an FRA statement posted by the bourse (pdf). Cleopatra has offered to pay EGP 90 per share for a total 7.2 mn shares, valuing El Nozha at north of EGP 648 mn by our calculations. The company, Egypt’s largest private-sector hospital operator, already has high profile hospitals within El Nozha’s catchment area. You can view here (pdf) the minutes of the board meeting that authorized the Nozha offer.