TAT for Medical Services made an offer to acquire Alexandria New Medical Center from Abu Dhabi Commercial Bank PJSC and other shareholders for approximately EGP 700 million.

TAT for Medical Services made an offer to acquire Alexandria New Medical Center (CASE:AMES) from Abu Dhabi Commercial Bank PJSC (ADX:ADCB) and other shareholders for approximately EGP 650 million on May 31, 2021. TAT for Medical Services will acquire shares at an offer per share of EGP 45.53. TAT for Medical Services will acquire 51.54% stake from Abu Dhabi Commercial Bank PJSC.

As of June 8, 2021, bid price was increased to EGP 49.04. The binding offer is subject to required regulatory approvals for mandatory tender offer, including the approval of the Ministry of Health and Population and the Financial Regulatory Authority.