{"id":553903,"date":"2021-12-13T03:50:47","date_gmt":"2021-12-13T03:50:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/egx-sets-timeline-for-ci-capitals-bid-on-cleopatra-shares\/"},"modified":"2021-12-13T03:50:47","modified_gmt":"2021-12-13T03:50:47","slug":"egx-sets-timeline-for-ci-capitals-bid-on-cleopatra-shares","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/egx-sets-timeline-for-ci-capitals-bid-on-cleopatra-shares\/","title":{"rendered":"EGX sets timeline for CI Capital\u2019s bid on Cleopatra shares"},"content":{"rendered":"

<\/a> Subscription for CI Capital\u2019s bid for a chunk of Cleopatra Hospitals kicks off <\/strong>today: <\/strong>Cleopatra Hospital Group shareholders have until Sunday, 26 December to subscribe to CI Capital\u2019s voluntary tender offer (VTO), which it launched last week to acquire 26.2% of the company, according to the timeline set by the EGX<\/a> yesterday. Shares will change hands within five working days of the end of the tender offer, by Sunday 2 January<\/sup>.<\/p>\n

Regulatory approval:<\/strong> MCI Capital Healthcare Partners, a CI Capital subsidiary, got the green light fromthe FRA<\/a> last week on its offer to purchase up to 339.3 mn shares in Cleopatra at EGP 5 apiece, valuing the company at EGP 8 bn. CLHO is Egypt\u2019s second-largest healthcare company by market capitalization.<\/p>\n

Already on board:<\/strong> Cleopatra\u2019s biggest shareholder, Creed Healthcare\u2019s subsidiary Care Healthcare, agreed to sell an 8-12% stake<\/a>in the company from its holdings (126-192 mn shares) at the offer price. This would reduce its stake in CHG to 26-30%, but maintain its position as its largest shareholder, netting as much as EGP 960 mn. Creed Healthcare \u2014 backed by several international DFIs and private equity firms \u2014 owns 37.9% of CHG through its subsidiary Care Healthcare, after divesting a 31.5% stake<\/a> in 2019. Mid-market investment firm RMBV<\/a>\u2019s Ahmed Badreldin helped create Cleo and is now chairman of the board, sitting as a representative of Creed. RMBV is a double-bottom-line firm with holdings in Egypt, Tunisia, Libya, Algeria, Morocco, Senegal and Ivory Coast, including EGX-listed higher ed outfit Taaleem in Egypt.<\/p>\n

ADVISORS:<\/strong> Zulficar & Partners is acting as legal advisor to MCI Capital.<\/p>\n","protected":false},"excerpt":{"rendered":"

Subscription for CI Capital\u2019s bid for a chunk of Cleopatra Hospitals kicks off today: Cleopatra Hospital Group shareholders have until Sunday, 26 December to subscribe to CI Capital\u2019s voluntary tender offer (VTO), which it launched last week to acquire 26.2% of the company, according to the timeline set by the EGX yesterday. Shares will change […]<\/p>\n","protected":false},"author":1,"featured_media":553904,"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":[136,7411,192,193,68,72,76,7115,7128,3067,2350],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-553903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-ci-capital","tag-cleopatra","tag-cleopatra-hospitals-group","tag-creed-healthcare","tag-egx","tag-enterpriseam","tag-financial-regulatory-authority","tag-healthcare","tag-ma-watch","tag-mci-capital","tag-zulficar-partners","wpautop","entry"],"acf":{"mongo_id":"4ad11434-8f27-4417-a7fc-6585cc0faef8","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/314.jpg","photo_position":"above","related_issue":[553897],"teaser":"","voice_url":""},"yoast_head":"\nEGX sets timeline for CI Capital\u2019s bid on Cleopatra shares - 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\/2021\/12\/13\/egx-sets-timeline-for-ci-capitals-bid-on-cleopatra-shares\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EGX sets timeline for CI Capital\u2019s bid on Cleopatra shares\" \/>\n<meta property=\"og:description\" content=\"Subscription for CI Capital\u2019s bid for a chunk of Cleopatra Hospitals kicks off today: Cleopatra Hospital Group shareholders have until Sunday, 26 December to subscribe to CI Capital\u2019s voluntary tender offer (VTO), which it launched last week to acquire 26.2% of the company, according to the timeline set by the EGX yesterday. Shares will change […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/egx-sets-timeline-for-ci-capitals-bid-on-cleopatra-shares\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-13T03:50:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/314.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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/egx-sets-timeline-for-ci-capitals-bid-on-cleopatra-shares\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/egx-sets-timeline-for-ci-capitals-bid-on-cleopatra-shares\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"EGX sets timeline for CI Capital\u2019s bid on Cleopatra shares\",\"datePublished\":\"2021-12-13T03:50:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/egx-sets-timeline-for-ci-capitals-bid-on-cleopatra-shares\/\"},\"wordCount\":266,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/egx-sets-timeline-for-ci-capitals-bid-on-cleopatra-shares\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/314.jpg?fit=%2C&ssl=1\",\"keywords\":[\"CI Capital\",\"Cleopatra\",\"Cleopatra Hospitals Group\",\"Creed Healthcare\",\"EGX\",\"EnterpriseAM\",\"Financial Regulatory Authority\",\"healthcare\",\"M&A Watch\",\"MCI Capital\",\"Zulficar & Partners\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/egx-sets-timeline-for-ci-capitals-bid-on-cleopatra-shares\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/egx-sets-timeline-for-ci-capitals-bid-on-cleopatra-shares\/\",\"name\":\"EGX sets timeline for CI Capital\u2019s bid on Cleopatra shares - 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MCI Capital Healthcare Partners, the CI Capital subsidiary that\u2019s executing the acquisition, last week\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\/12\/398.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553865,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/12\/ci-capitals-cleopatra-bid-gets-regulatory-approval\/","url_meta":{"origin":553903,"position":1},"title":"CI Capital\u2019s Cleopatra bid gets regulatory approval","author":"enterpriseam admin","date":"12 December 2021","format":false,"excerpt":"CI Capital\u2019s bid to acquire 26.2% of Cleopatra Hospitals Group has received the greenlight from the Financial Regulatory Authority (FRA), the regulator said in a statement (pdf) to the EGX on Thursday. 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MCI Capital Healthcare Partners, a subsidiary of the state-owned financial services company, has submitted a voluntary tender offer to acquire a\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\/12\/271.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542574,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/edita-wont-be-acquiring-assets-of-ole-bakeries-manufacturer\/","url_meta":{"origin":553903,"position":4},"title":"Edita won\u2019t be acquiring assets of Ole bakeries manufacturer","author":"enterpriseam admin","date":"4 January 2022","format":false,"excerpt":"Snackfoods giant Edita won\u2019t acquire Egyptian Belgian Company\u2019s assets after talks collapse: Edita Food Industries\u2019 bid to acquire assets belonging to Egyptian Belgian Company has fallen through after the two companies were unable to agree on a valuation. The EGX-listed company had expected to finalize an agreement with the Ole\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\/1\/42.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565917,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/cleopatra-wants-100-of-alex-medical\/","url_meta":{"origin":553903,"position":5},"title":"Cleopatra wants 100% of Alex Medical","author":"enterpriseam admin","date":"17 May 2021","format":false,"excerpt":"Cleopatra mounts Alex Medical takeover bid: Cleopatra Hospitals Group (CHG) has submitted a mandatory tender offer to acquire up to 100% of Alexandria Medical Services in a transaction that would value the company at EGP 550 mn, the EGX-listed group said in a statement (pdf) this morning. The company has\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/367.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\/553903","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=553903"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/553903\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/553897"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/553904"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=553903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=553903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=553903"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=553903"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=553903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}