The Abraaj Group Submits Tender Offer for Egypt-listed Cairo Medical Center (MENA)

Source: The Abraaj Group

Global growth markets investor The Abraaj Group has submitted a mandatory tender offer to acquire up to 100 percent of Egypt-listed private hospital Cairo Medical Center. The Abraaj Group plans to undertake a capital expenditure program at Cairo Medical Center with the objective of upgrading the medical facilities, installing new equipment throughout the hospital and investing in staff training. The mandatory tender offer is conditional to 51 percent of the total outstanding shares being tendered. Financial details of the transaction were not disclosed.