#UAE's ADCB says received offers for its stake in Alexandria Medical Services | ZAWYA MENA Edition

UAE's ADCB says received offers for its stake in Alexandria Medical Services | ZAWYA MENA Edition

UAE-based Abu Dhabi Commercial Bank (ADCB) said it has received initial non-binding offers from potential investors for the sale of its 51 percent stake in the Alexandria Medical Services - Alexandria New Medical Center.

CI Capital is ADCB’s advisor for the potential sale.

In a statement on Abu Dhabi Stock Exchange the lender said it has sought the details of potential offers. Once that is received, ADCB will disclose the final list of potential buyers and the timeline for submitting the final bids.

Alexandria Medical Services - Alexandria New Medical Center offers medical diagnostic and treatment services in various medical fields.

However, Cleopatra Hospitals Group (CHG), Egypt’s largest private hospital group, has announced its intention to acquire Abu Dhabi Commercial Bank’s (ADCB) 51.5 percent stake in the company.