Mubasher: Abu Dhabi Commercial Bank (ADCB) has appointed Cl Capital lnvestment Banking as its financial advisor to organise the sale of its 51.54% stake in Alexandria Medical Services - Alexandria New Medical Center.
ADCB started marketing its stake in the company on 8 March 2021, according to the company's disclosure to the Egyptian Exchange (EGX) on Tuesday.
The sale process will be executed in accordance with the applicable laws and regulations, which will oblige any potential buyer of the bank's stake in the Company to undertake a mandatory tender offer on the Company's shares.
It is noteworthy to mention that in late December 2020, ADCB purchased a 51.5% stake in the Company's capital for AED 64 million as a settlement for the bank's dues with BR Shetty, the founder of NMC Health.
