Egypt’s Al Ahly Capital to acquire 100% of El Nada hospital for EGP 300 mn

M&A WATCH- Al Ahly Capital is expected to close its acquisition of 100% of El Nada Hospital for EGP 300 mn before the end of the month, by which time its due diligence will be complete, Al Mal reports, citing sources close to the transaction. The acquisition is a precursor to the establishment of a holding company focused on the health sector, the sources said. CEO Karim Saada said earlier this year that Al Ahly will set up a JV with UAE’s MBF Group to invest in healthcare and said the company plans to invest USD 150 mn in the sector. Al Ahly — the investment arm of the National Bank of Egypt — has reportedly already received offers from local and international investors to participate in the new company.