Cleopatra Hospital Group S.A.E. (CASE:CLHO) submitted a binding purchasing offer to acquire Nozha International Hospital (CASE:NINH) for approximately EGP 650 million on January 16, 2018. Cleopatra Hospital made an offer to acquire 7.2 million shares, representing 100% stake of Nozha International, at EGP 90 per share. Upon successful acquisition of at least 51% of Nozha International Hospital's shares, Cleopatra Hospital Group intends to initiate procedures to de-list Nozha International Hospital from the Egyptian Stock Exchange. The offer will be reviewed by Financial Regulatory Authority. Cleopatra Hospital Board approved the transaction on January 16, 2018. As of June 13, 2018, the transaction is rejected by Financial Regulatory Authority. EFG Hermes Investment Banking acted as financial advisor and Matouk Bassiouny Independent Law Firm acted as legal advisor to Cleopatra Hospital Group S.A.E.

Cleopatra Hospital Group S.A.E. (CASE:CLHO) cancelled the acquisition of Nozha International Hospital (CASE:NINH) on January 16, 2019.