{"id":608260,"date":"2023-10-17T00:00:00","date_gmt":"2023-10-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/17\/alfa-eyes-stakes-in-three-cairo-hospitals-plus-gold-news-from-aton-and-naguib\/"},"modified":"2023-10-17T00:00:00","modified_gmt":"2023-10-17T00:00:00","slug":"alfa-eyes-stakes-in-three-cairo-hospitals-plus-gold-news-from-aton-and-naguib","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/17\/alfa-eyes-stakes-in-three-cairo-hospitals-plus-gold-news-from-aton-and-naguib\/","title":{"rendered":"Alfa eyes stakes in three Cairo hospitals. PLUS: Gold news from Aton and Naguib"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>M&A WATCH-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Alfa Medical eyes stakes in three Cairo hospitals:<\/strong><a target=\"_blank\" href=\"https:\/\/www.alfalaboratory.com\/\" style=\"\" rel=\"noopener\">Alfa Medical Group<\/a> (AMG) \u2014 the group behind Alfa Labs \u2014 is currently looking to acquire stakes in as many as three Cairo-based hospitals before the end of 2023 as part of an expansion plan, <a target=\"_blank\" href=\"https:\/\/bit.ly\/3PQbYv6\" style=\"\" rel=\"noopener\">A<\/a><a target=\"_blank\" href=\"https:\/\/bit.ly\/3PQbYv6\" style=\"\" rel=\"noopener\">l Mal<\/a> reports, citing sources it says have knowledge of the matter. The local media outlet did not disclose the names of the hospitals or the size of the stakes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AMG has a lot of investments in the pipeline? <\/strong>AMG is currently building two hospitals and the Alfa Medical City in Sheikh Zayed to add to its existing portfolio of 170 pathology centers, 6 radiology centers and a hospital, according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/alfamedicalgroup\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">LinkedIn<\/a>. In 2021, the group <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ef883f7-8531-4b2e-8783-56bf1df35845\" style=\"\" rel=\"noopener\">announced<\/a> plans to invest some EGP 5 bn in the local market through 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MINING-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Aton strikes gold:<\/strong> Egypt-focused Canadian gold miner Aton Resources identified opportunities for mining moderate and high grade gold at the Semna prospect in its Abu Marwat concession in the Eastern Desert, the company announced in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/10\/772.pdf\" style=\"\" rel=\"noopener\">first results release (pdf)<\/a>. \u201cThe drilling has indicated that the high grade orogenic style gold mineralisation at Semna continues at depth beneath the old mine stopes, and is also open along strike,\u201d Aton\u2019s interim CEO Tonno Vahk said in the release, adding \u201cthese results further indicate the potential of the Abu Marwat Concession to host multiple deposits with a variety of mineralisation styles.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aton wants to further its gold mining operations:<\/strong> The Canadian firm wants to obtain a mining license to develop its gold mines at its Abu Marwat concession, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2023\/10\/15\/1723628\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, and has submitted a request to the Egyptian Mineral Resources Authority detailing its commercial discoveries at the concession.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Naguib Sawiris mulls stake in Pakistani gold mine: <\/strong>Egyptian telecom and real estate bn\u2019aire Naguib Sawiris indicated his interest in investing in the USD 7 bn Reko Diq gold and copper mine in Pakistan, reports <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-16\/gold-egyptian-billionaire-sawiris-eyes-pakistan-s-reko-diq-mine\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Sawiris, who is no stranger to the gold mining industry, added \u201cI have an advantage compared to other investors. I know the country, I have friends here.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know and what we don\u2019t: <\/strong>The mine is one of the largest undeveloped gold and copper mines in the world, but international companies have been reluctant to get involved on the back of security concerns, the news outlet reported. It is 50% owned by Canada\u2019s Barrick Gold and the remaining 50% is owned by Pakistani state companies and institutions.Sawiris did not elaborate on the size of any future stake purchase or who he would buy it from.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sawiris is no stranger to Pakistan: <\/strong>The Sawiris-owned Ora Developers also has a presence in the South Asian country and is currently building a luxury housing development. Pakistan, like many other developing nations, also had their first mobile telephone network set up by the Egyptian businessman.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2021, Alfa announced a EGP 5 bn Egypt investment plan to wrap up in 2026<\/p>\n","protected":false},"author":1,"featured_media":608261,"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":[7209],"tags":[3728,111,72,7093,7115,7128,373,2065,474],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-608260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-alfa-medical","tag-also-on-our-radar","tag-enterpriseam","tag-gold","tag-healthcare","tag-ma-watch","tag-mining","tag-naguib-sawiris","tag-pakistan","wpautop","entry"],"acf":{"mongo_id":"9e5d1541-89c4-4ace-96fb-875a194d5c6e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/834.jpg","photo_position":"above","homepage_title":"Alfa eyes stakes in three Cairo hospitals","full_issue_title":"Alfa eyes stakes in three Cairo hospitals. PLUS: Gold news from Aton and Naguib","related_issue":[608241],"teaser":"In 2021, Alfa announced a EGP 5 bn Egypt investment plan to wrap up in 2026","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.56b66d95-713a-47bf-891b-210b6ce61835.mp3"},"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>Alfa eyes stakes in three Cairo hospitals. 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