Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) has received a letter from the Abu Dhabi Commercial Bank (ADCB) with the final list of potential buyers of the bank’s 51.54% stake in Alexandria Medical Services - Alexandria New Medical Center.

The list includes Cleopatra Hospitals Group (CHG), Alexandria Medical Investment or any of its subsidiaries, Speed Hospitals-LimeVest Fund-Tawasol alliance, and Seha Capital, the FRA said in a statement to the Egyptian Exchange (EGX) on Tuesday.

The potential buyers, who offered a price of EGP 50.77 per share, will begin the due diligence process in the near future. Final mandatory tender offerings are expected to be submitted to the financial advisor, CI Capital, in the third week of May.

During the first nine months of 2020, Alexandria Medical Services achieved net profits of EGP 15.74 million, down from EGP 20.81 million in the corresponding period a year earlier.