{"id":549065,"date":"2022-09-01T03:30:54","date_gmt":"2022-09-01T03:30:54","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/01\/alex-medical-taps-advisors-to-assess-the-tawasol-holdings-limevest-consortiums-acquisition-bid\/"},"modified":"2022-09-01T03:30:54","modified_gmt":"2022-09-01T03:30:54","slug":"alex-medical-taps-advisors-to-assess-the-tawasol-holdings-limevest-consortiums-acquisition-bid","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/01\/alex-medical-taps-advisors-to-assess-the-tawasol-holdings-limevest-consortiums-acquisition-bid\/","title":{"rendered":"Alex Medical taps advisors to assess the Tawasol Holdings-LimeVest consortium\u2019s acquisition bid"},"content":{"rendered":"

<\/a> Alex Medical taps advisors to weigh in on acquisition bid:<\/strong> Alexandria Medical Services has appointed Andersen<\/a> as its financial advisor to study Tawasol Holdings and LimeVest\u2019s bid to acquire up to 74% of the company, it said in an EGX disclosure (pdf)<\/a> yesterday. The company also hired Helmy, Hamza and Partners (Baker McKenzie\u2019s Cairo office) as legal counsel on the issue.<\/p>\n

Refresher: <\/strong>The Financial Regulatory Authority (FRA) this week approved the consortium\u2019s mandatory tender offer<\/a> (MTO) to purchase up to 74% of Alexandria Medical Services for EGP 47.67 a share. This is an adjustment from the alliance\u2019s last bid<\/a> in June last year, which offered to purchase shares at EGP 52 apiece, because Alex Medical has since executed a capital increase, issuing 1.3 mn additional shares. This came amid a bidding war for the healthcare provider that at its peak saw eight companies and consortiums<\/a> signal their interest before it fizzled out<\/a> without a sale.<\/p>\n

WATCH THIS SPACE- Shareholders have until 27 September to respond to the MTO.<\/strong> Alex Medical\u2019s board will release a statement clarifying what it thinks of the bid by 20 September, the disclosure said yesterday.<\/p>\n

The word among analysts is that the offer price is \u201cfair,\u201d <\/strong>especially \u201cconsidering the decline in profits that Alex Medical saw in 1H 2022,\u201d Al Mal<\/a> quotes Aly Adel, vice president at Beltone Financial, as saying. The company\u2019s net income more than halved to EGP 11.01 mn during the six-month period, according to its latest financials (pdf)<\/a>.<\/p>\n

Buy-side advisors<\/strong>:<\/strong> Prime Holding are the brokers on the offer and Zaki Hashem and Partners are acting as legal advisors for Tawasol Holdings-LimeVest on the transaction.<\/p>\n

DID SOMEONE SAY MICRO ACQUISITION?<\/strong><\/p>\n

Rowad Tourism<\/a><\/strong> has upped its stake in ceramics manufacturer <\/strong>Lecico Egypt<\/a><\/strong> to 3.92% from 2.24% in an EGP 13.76 mn transaction at EGP 10.24 per share. (Disclosure, pdf<\/a>)<\/p>\n

EDITOR\u2019S NOTE- This story was amended on 19 September, 2022 to clarify that Tawasol Holdings and LimeVest\u2019s most recent offer for Alex Medical adjusts the price to account for the company\u2019s capital increase, and is not a discount from its initial offer.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Alex Medical taps advisors to weigh in on acquisition bid: Alexandria Medical Services has appointed Andersen as its financial advisor to study Tawasol Holdings and LimeVest\u2019s bid to acquire up to 74% of the company, it said in an EGX disclosure (pdf) yesterday. The company also hired Helmy, Hamza and Partners (Baker McKenzie\u2019s Cairo office) […]<\/p>\n","protected":false},"author":1,"featured_media":549066,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[2336,2343,72,7115,2344,2334,7128,2335],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-alexandria-medical-services","tag-andersen","tag-enterpriseam","tag-healthcare","tag-helmy-hamza-and-partners","tag-limevest","tag-ma-watch","tag-tawasol-holdings","wpautop","entry"],"acf":{"mongo_id":"ad46444d-2c60-4f89-9f57-a21c381e01c2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/93.jpg","photo_position":"above","related_issue":[549059],"teaser":"","voice_url":""},"yoast_head":"\nAlex Medical taps advisors to assess the Tawasol Holdings-LimeVest consortium\u2019s acquisition bid - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/01\/alex-medical-taps-advisors-to-assess-the-tawasol-holdings-limevest-consortiums-acquisition-bid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alex Medical taps advisors to assess the Tawasol Holdings-LimeVest consortium\u2019s acquisition bid\" \/>\n<meta property=\"og:description\" content=\"Alex Medical taps advisors to weigh in on acquisition bid: Alexandria Medical Services has appointed Andersen as its financial advisor to study Tawasol Holdings and LimeVest\u2019s bid to acquire up to 74% of the company, it said in an EGX disclosure (pdf) yesterday. 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The company has upped the per-share price of the offer it made for a majority stake in Alex Medical last\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/283.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549590,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/bids-for-alex-medical-arent-adding-up-b-investments-approves-fair-value-study-ahead-of-giza-systems-sale\/","url_meta":{"origin":549065,"position":1},"title":"Bids for Alex Medical aren\u2019t adding up + B Investments approves fair value study ahead of Giza Systems sale","author":"enterpriseam admin","date":"22 September 2022","format":false,"excerpt":"A tale of two fair value studies: Things are not looking up for the Tawasol Holdings-LimeVest consortium\u2019s bid to acquire Alex Medical, as a fair value study from Andersen adds weight to the board\u2019s suggestion that the bid undervalues the company. Meanwhile, B Investments could close the sale of its\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/315.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549552,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/21\/alex-medical-board-gives-thumbs-down-to-tawasol-limevests-offer\/","url_meta":{"origin":549065,"position":2},"title":"Alex Medical board gives thumbs down to Tawasol-LimeVest\u2019s offer","author":"enterpriseam admin","date":"21 September 2022","format":false,"excerpt":"Alex Medical\u2019s board takes issue with Tawasol-LimeVest\u2019s offer: The Alexandria Medical Services board has shared its opinion on the Tawasol Holdings-LimeVest consortium\u2019s bid to acquire up to 74% of the company \u2014 and it\u2019s not too positive, with the board saying the offer doesn\u2019t represent the value of the company\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/298.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549740,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/28\/a-long-time-coming\/","url_meta":{"origin":549065,"position":3},"title":"A long time coming","author":"enterpriseam admin","date":"28 September 2022","format":false,"excerpt":"Tawasol-LimeVest consortium closes Alex Medical acquisition: Shareholders in Alexandria Medical Services agreed to sell more than 70% of the company to a consortium of Tawasol Holding and LimeVest, the EGX said yesterday. The subscription period for the consortium\u2019s mandatory tender offer (MTO), in which it offered to buy 74% of\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/408.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549033,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/31\/could-the-alex-medical-acquisition-finally-go-through\/","url_meta":{"origin":549065,"position":4},"title":"Could the Alex Medical acquisition finally go through?","author":"enterpriseam admin","date":"31 August 2022","format":false,"excerpt":"Alex Medical is back in play: The Financial Regulatory Authority (FRA) has approved a mandatory tender offer (MTO) from the Tawasol Holdings-LimeVest consortium to purchase up to 74% of Alexandria Medical Services, bringing back to life a play for the healthcare provider that we\u2019d heard nothing on since last summer.\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/448.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563190,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/tawasol-limevest-make-their-move-for-alex-medical\/","url_meta":{"origin":549065,"position":5},"title":"Tawasol, LimeVest make their move for Alex Medical","author":"enterpriseam admin","date":"22 June 2021","format":false,"excerpt":"Tawasol-LimeVest consortium launches Alex Medical takeover bid: A consortium of Tawasol Holdings and LimeVest affiliate Maternity and Pediatrics Holding has made its move in the race for Alexandria Medical Services, submitting a bid that values the company at more than EGP 740 mn. The companies have submitted a request to\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/279.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=549065"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549065\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549059"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/549066"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549065"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549065"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}