CAPITAL MARKETS-

EFG Hermes concludes advisory on Arafa Holding demerger: Our friends at EFG Hermes have successfully concluded advisory on the demerger of Arafa Holding that took place last week, the investment bank said in a press release (pdf).

ICYMI: The demerger saw Arafa rebrand as Concrete Fashion Group for Commercial and Industrial Investment and spin off subsidiary GTEX Holding, and the two new firms began trading on the EGX yesterday.

** We spoke with newly-appointed deputy CEO Mohamed Talaat last week to find out what prompted the move and what’s next for Concrete, including its global expansion plans. You can read the full story here.

HEALTHCARE-

GCC alliance eyes 25% stake in City Lab: Medical diagnostic services company CityLab Egypt has received an offer from a Gulf consortium of medical companies that includes Premium Diagnostics’ Saudi, Emirati, US, and Egyptian arms to buy up to a 25% stake in the company for EGP 250 mn, according to a statement (pdf) from the company. The company’s board of directors will meet on Wednesday to discuss and vote on the proposal.

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