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, Bloomberg News reported. The board of Cleopatra has approved the planned purchase, according to a statement yesterday. Cleopatra plans to partially fund the deal by issuing convertible loan notes to Alameda controlling shareholder Fahad Khater. The deal could value Alameda at about $450 million to $500 million including debt. Khater, Alameda’s founder, will become the second-largest shareholder in the combined group with an expected stake of about 25% after the transaction, the person said, asking not to be identified because the information is private. Read more.