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Andalusia Health secured an eight-year, c.EGP 643 mn dual-currency loan from Banque Misr to fund the expansion of its Maadi hospital, according to a statement (pdf). The package includes an EGP 300 mn tranche and USD 6.5 mn (c.EGP 343 mn) facility, earmarked to fund a 70-bed addition to the hospital.
Why it matters: Healthcare is a high-growth, defensive sector that remains a favorite for local lenders. The loan’s dual-currency structure allows Andalusia to secure the USD needed for imported specialized medical equipment while covering its local construction costs in EGP, as the group looks to better manage its USD 1 bn in assets under management.
The Oberoi Sahl Hasheesh has a new owner
We have a name for the mystery buyer behind the massive Sahl Hasheesh divestment. Hospitality giant PickAlbatros snapped up the Oberoi Beach Resort and its surrounding 800k sqm land bank in an EGP 3.8 bn allcash transaction, the Arabic press reports. Owned by b’naire Kamel Abou Aly, the group acquired the Red Sea properties from subsidiaries of the Export Development Bank of Egypt (EBank), in line with the goal of deploying its targeted USD 200 mn investment pipeline for this year.
REFRESHER- EBank initially announced the divestment back in August 2025 (pdf), but kept the buyer’s identity under wraps. The lender’s subsidiaries cleanly offloaded their Sahl Hasheesh stakes at a solid premium back in February (pdf), securing an EGP 3.8 bn final price against a fair value assessment of EGP 3.3 bn.
Baraka moves to swallow Tawfeeq Leasing
Al Baraka Bank’s shareholders signed off on its plans to launch a mandatory tender offer for up to 90% of Al Tawfeeq Leasing (AT Lease) via share swap with nocash option, it said in a bourse filing (pdf). The transaction values Al Baraka at EGP 26 per share and AT Lease at EGP 4.99 apiece, maintaining a swap ratio of 0.19 Al Baraka shares for every AT Lease share. The acquisition will see Al Baraka issue up to 63.2 mn new shares to AT Lease shareholders.
REMEMBER- This acquisition has been brewing since last October, when the bank notified the Financial Regulatory Authority of its intention to raise its existing 7.6% holding in the leasing firm. In December, it was granted a 60-day extension to formally submit its tender.
