{"id":549515,"date":"2022-09-20T04:00:19","date_gmt":"2022-09-20T04:00:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/20\/another-bidder-is-back-for-alex-medical\/"},"modified":"2022-09-20T04:00:19","modified_gmt":"2022-09-20T04:00:19","slug":"another-bidder-is-back-for-alex-medical","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/20\/another-bidder-is-back-for-alex-medical\/","title":{"rendered":"Another bidder is back for Alex Medical"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Yas Holding relaunches its bid to acquire Alex Medical:<\/strong> The UAE\u2019s Yas Holding (formerly known as <a href=\"https:\/\/www.linkedin.com\/company\/emirates-advanced-investments\/\">Emirates Advanced Investments<\/a>) appears to be reentering the bidding war for Alexandria Medical Services. The company has upped the per-share price of the offer it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/324b0f80-415a-4f55-93a2-f4bef5c8108d\">made for a majority stake<\/a> in Alex Medical last year by some 10.5% to EGP 48.62 per share, the Financial Regulatory Authority (FRA) said in <a href=\"https:\/\/ent.news\/2022\/9\/Alex-Medical-9.19.22.pdf\">a statement (pdf)<\/a> to the EGX yesterday. The offer values Alex Medical at some EGP 757 mn by our math \u2014 and comes in some 2% higher than the mandatory tender offer for Alex Medical currently in play from the Tawasol Holdings-LimeVest consortium.<\/p>\n<p><strong>REMEMBER- We\u2019re expecting Alex Medical\u2019s board to say what it thinks of another acquisition offer today. <\/strong>The Tawasol-LimeVest consortium is offering EGP 47.67 a share as it looks to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad46444d-2c60-4f89-9f57-a21c381e01c2\">purchase up to 74%<\/a> of Alex Medical, relaunching its bid from last year at the same valuation, with an adjustment in the pre-share price to account for the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3bdb8051-cf1a-43cf-ba03-aaa0e55b485c\">capital increase<\/a> the healthcare provider made in the interim. Tawasol already <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a108ea38-12e7-4974-9c7c-e191893d0399\">owns 26%<\/a> of Alex Medical, meaning the acquisition could give the consortium 100% ownership. Alex Medical\u2019s board has said it will share its view on the consortium\u2019s offer today, after appointing Andersen as its financial advisor to study the bid. <strong>Alex Medical\u2019s shareholders have until 27 September to weigh in. <\/strong><\/p>\n<p><strong>Will Tawasol-LimeVest up its offer? <\/strong>The Tawasol-LimeVest consortium is still deciding how to respond to the amended offer from Yas, a source close to the transaction tells Enterprise. The Yas offer is pending healthcare-sector specific approvals and the greenlight from the FRA, according to the regulator\u2019s statement.<\/p>\n<p><strong>Who\u2019s selling?<\/strong> Abu Dhabi Commercial Bank (ADCB) wants to sell its 51.5% stake in the company that it acquired from NMC Healthcare\u2019s disgraced founder, BR Shetty. Another 9.8% is owned by an individual shareholder.<\/p>\n<p><strong>Advisors:<\/strong> Al Ahly Pharos is reportedly Yas\u2019 financial advisor on the transaction, according to sources quoted by <a href=\"https:\/\/bit.ly\/2RpY0FY\">Hapi Journal<\/a> at the time the offer was launched. Prime Holding are the brokers on the Tawasol-Limevest offer and Zaki Hashem and Partners are acting the consortium\u2019s legal advisors.<\/p>\n<p><strong>In context:<\/strong> Yas and the Tawasol-LimeVest consortium had both put in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/324b0f80-415a-4f55-93a2-f4bef5c8108d\">offers for Alex Medical<\/a> in June last year, amid a bidding war for the healthcare provider that at its peak saw <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db1dc8a7-f010-4c1e-a656-a4b11bb806fa\">eight companies and consortiums<\/a> signal their interest before it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad19be3f-8f1a-494f-933b-2462e348c032\">fizzled out<\/a> without a sale.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yas Holding relaunches its bid to acquire Alex Medical: The UAE\u2019s Yas Holding (formerly known as Emirates Advanced Investments) appears to be reentering the bidding war for Alexandria Medical Services. The company has upped the per-share price of the offer it made for a majority stake in Alex Medical last year by some 10.5% to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":549516,"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":[2336,72,7115,2334,7128,2335,2461],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-alexandria-medical-services","tag-enterpriseam","tag-healthcare","tag-limevest","tag-ma-watch","tag-tawasol-holdings","tag-yas-holding","wpautop","entry"],"acf":{"mongo_id":"4d4b847e-401a-461e-932f-b5e894e39cf4","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/283.jpg","photo_position":"above","related_issue":[549507],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Another bidder is back for Alex Medical - 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\/20\/another-bidder-is-back-for-alex-medical\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Another bidder is back for Alex Medical\" \/>\n<meta property=\"og:description\" content=\"Yas Holding relaunches its bid to acquire Alex Medical: The UAE\u2019s Yas Holding (formerly known as Emirates Advanced Investments) appears to be reentering the bidding war for Alexandria Medical Services. The company has upped the per-share price of the offer it made for a majority stake in Alex Medical last year by some 10.5% to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/20\/another-bidder-is-back-for-alex-medical\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-20T04:00:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/283.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/20\/another-bidder-is-back-for-alex-medical\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/20\/another-bidder-is-back-for-alex-medical\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Another bidder is back for Alex Medical\",\"datePublished\":\"2022-09-20T04:00:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/20\/another-bidder-is-back-for-alex-medical\/\"},\"wordCount\":405,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/20\/another-bidder-is-back-for-alex-medical\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/283.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Alexandria Medical Services\",\"EnterpriseAM\",\"healthcare\",\"LimeVest\",\"M&amp;A Watch\",\"Tawasol Holdings\",\"Yas Holding\"],\"articleSection\":[\"M&amp;A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/20\/another-bidder-is-back-for-alex-medical\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/20\/another-bidder-is-back-for-alex-medical\/\",\"name\":\"Another bidder is back for Alex Medical - 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The companies have submitted a request to\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;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":[]},{"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":549515,"position":2},"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 &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;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":549033,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/31\/could-the-alex-medical-acquisition-finally-go-through\/","url_meta":{"origin":549515,"position":3},"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 &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;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":549065,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/01\/alex-medical-taps-advisors-to-assess-the-tawasol-holdings-limevest-consortiums-acquisition-bid\/","url_meta":{"origin":549515,"position":4},"title":"Alex Medical taps advisors to assess the Tawasol Holdings-LimeVest consortium\u2019s acquisition bid","author":"enterpriseam admin","date":"1 September 2022","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/93.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":549515,"position":5},"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 &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549515","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=549515"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549515\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549507"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/549516"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549515"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549515"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}