Friday, February 6, 2009

Egyptian, BVI and UAE investors offer to buy Alexandria Medical Services

The Egyptian investor has made an offer to medical equipment firm Alexandria Medical Services with purpose to buy it for 102.9 mln Egyptian pounds, meaning that all the 1.4 million shares of the firm will be bought at a price of 73.5 pounds per share.

This is the highest bid for the company, earlier this month an Indian investor who runs healthcare business in the United Arab Emirates offered to buy Alexandria Medical Services for 100.8 mln pounds , or 72 pounds per share. Also, the previous offer of 100 percent takeover made by the British Virgin Islands-based company Short Hills Development was 65 pounds a share.

The current offer of the investor, who is the chairman of the board of Egyptian pesticide firm Agrochem, also based in Alexandria, brought the number of offers for the medical firm to three.