{"id":563190,"date":"2021-06-22T03:50:32","date_gmt":"2021-06-22T03:50:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/tawasol-limevest-make-their-move-for-alex-medical\/"},"modified":"2021-06-22T03:50:32","modified_gmt":"2021-06-22T03:50:32","slug":"tawasol-limevest-make-their-move-for-alex-medical","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/tawasol-limevest-make-their-move-for-alex-medical\/","title":{"rendered":"Tawasol, LimeVest make their move for Alex Medical"},"content":{"rendered":"

<\/a> Tawasol-LimeVest consortium launches Alex Medical takeover bid:<\/strong> 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 go ahead with a mandatory tender offer (MTO) to acquire a 74.08% stake in the company at EGP 52 per share, the Financial Regulatory Authority said (pdf)<\/a> yesterday. Tawasol is already a 26% shareholder<\/a> in Alex Medical, and the acquisition would give the consortium 100% ownership. Abu Dhabi Commercial Bank is the main seller, and is looking to exit its 51.5% stake.<\/p>\n

This is higher than the bid submitted by Tana Africa\u2019s TAT Medical Services,<\/strong> which bid<\/a>for Alex Medical at EGP 49.04 per share earlier this month, up from the EGP 45.53 it had offered in May. This came a few days after Yas Holding, the parent company of the UAE\u2019s Global One Healthcare Holding, offered EGP 47.98 per share<\/a> for at least 51% of the company. Other bidders<\/a> include Cleopatra Hospital (it\u2019s offering EGP 38.53 per share)<\/a>, Nile Scan<\/a> and healthcare investment firm Seha Capital.<\/p>\n

Speed Medical <\/strong>withdrew in May<\/a><\/strong> from the Tawasol-LimeVest consortium<\/strong>, which had previously offered EGP 38.09 per share last April for 100% of Alex Medical.<\/p>\n

IN OTHER M&A NEWS-<\/strong><\/p>\n

The price war for that other hot Alex company is heating up:<\/strong> Hong Kong\u2019s Zeta Investments has raised its MTO for 90% of Alexandria National Company for Financial Investments (ANFI), to EGP 6 apiece, up from the EGP 5.48<\/a> per share it submitted in mid-June, according to a statement (pdf)<\/a> by the Financial Regulatory Authority. The new offer values ANFI at EGP 31.35 mn. Subscription period for Zeta's MTO ends on Monday, 28 June. The offer was launched last week after obtaining the FRA\u2019s approval.<\/p>\n

The bids keep rolling in:<\/strong> The revised offer comes one day after private equity firm Compass Capital<\/a> has submitted an MTO to acquire up to 100% of ANFI for EGP 5.72 per share. Tycoon Holding<\/a> wants to acquire a 90% stake for EGP 5.60 per share.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 go ahead with a mandatory […]<\/p>\n","protected":false},"author":1,"featured_media":563191,"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":[2336,3714,72,293,2334,7128,2335,3713],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-alexandria-medical-services","tag-alexandria-national-company-for-financial-investments","tag-enterpriseam","tag-hong-kong","tag-limevest","tag-ma-watch","tag-tawasol-holdings","tag-zeta-investments","wpautop","entry"],"acf":{"mongo_id":"1b6ab888-b4a2-461f-8f92-eb8f37540eb9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/279.jpg","photo_position":"above","related_issue":[563186],"teaser":"","voice_url":""},"yoast_head":"\nTawasol, LimeVest make their move 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\/2021\/06\/22\/tawasol-limevest-make-their-move-for-alex-medical\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tawasol, LimeVest make their move for Alex Medical\" \/>\n<meta property=\"og:description\" content=\"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. 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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":549552,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/21\/alex-medical-board-gives-thumbs-down-to-tawasol-limevests-offer\/","url_meta":{"origin":563190,"position":1},"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":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":563190,"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 "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":549740,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/28\/a-long-time-coming\/","url_meta":{"origin":563190,"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":565627,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/20\/its-official-4-investors-are-in-the-bidding-war-for-alex-medical\/","url_meta":{"origin":563190,"position":4},"title":"It\u2019s official: 4 investors are in the bidding war for Alex Medical","author":"enterpriseam admin","date":"20 April 2021","format":false,"excerpt":"Healthcare investment firm Seha Capital is the latest to throw its hat in the ring for Alexandria Medical Services as Abu Dhabi Commercial Bank(ADCB) looks to offload its 51.54% stake, Alex Medical said in an EGX disclosure (pdf).The company is now officially being courted by four bidders: EGX-listed Cleopatra Hospitals\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\/internal\/536550.png?resize=350%2C200&ssl=1","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":563190,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563190","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=563190"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563190\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/563186"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/563191"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=563190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=563190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=563190"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=563190"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=563190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}