Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) has acquired a 51.5% stake in the capital of Alexandria Medical Services - Alexandria New Medical Center for AED 64 million (EGP 275 million), Al Arabiya reported.
This transaction comes as a settlement for the bank's dues with BR Shetty, the founder of NMC Health.
The Prime Securities Brokerage has executed the deal, while Zulficar & Partners Law Firm was its legal advisor.
Noteworthy to mention, in April 2020, ADCB confirmed that the liabilities of NMC Health Group to the bank have amounted to $981 million as at 31 March 2020, representing less than 1% of the bank's total assets.
