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Alexandria Medical Gets Offer From Indian Investor

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Alexandria Medical Services, an Egyptian company providing medical products, received a counter offer from an Indian investor, one day after approving a bid by EFG-Hermes Holding SAE, the biggest publicly traded investment bank in Egypt.

Alexandria Medical received an offer of 72 Egyptian pounds ($13.1) a share for the company’s 1.4 million shares from investor Bavaguthu Raghuram Shetty, topping a bid of 65 Egyptian pounds a share from Short Hills Development, a unit of EFG-Hermes, the company said today in a statement to Egypt’s Capital Market Authority and posted on the Web site of the Egyptian Exchange.