Cleopatra Hospital to Acquire Alameda Health’s Egypt Assets
- Deal to be partially funded through convertible loan notes
- Alameda could be valued at as much as $500 million in deal
Photographer: Ahmed Gomaa/Xinhua/Getty Images
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Cleopatra Hospital Group, the biggest Egyptian private hospital operator by number of beds, agreed to buy Alameda Healthcare Group’s assets in the country in one of the largest African health-care transactions this year.
The board of Cleopatra has approved the planned purchase, according to a statement Sunday, which confirmed an earlier Bloomberg News report. Cleopatra plans to partially fund the deal by issuing convertible loan notes to Alameda controlling shareholder Fahad Khater.