(MENAFN) Abu Dhabi-based hospital operator Al Noor said that it is in merger talks with South Africa-based healthcare chain Mediclinic International as it looks to expand its operations.
The potential deal would involve the issue of new Al Noor shares and may be classified as a reverse takeover, the Abu Dhabi-based group said in a posted statement.
"The board believes that the potential combination could have strong strategic benefits and could deliver significant shareholder value," Al Noor said in the statement.
Mediclinic, which already has a presence in the UAE, did not confirm whether it is in talks with Al Noor but said that it was involved in discussions that might affect its share price.
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