Administrators of NMC Health Plc (OTCPK:NMMC.F) are sounding out potential buyer interest for its flagship business in the United Arab Emirates (UAE), three sources familiar with the matter said. The potential sale of its biggest assets which would also include Oman, could generate around $1 billion, one of the sources said. The administrators will present two options to NMC’s creditors by February, 2021; either an outright sale of the assets or a business reorganisation, said the sources. Lenders will have to vote by April, 2021 on which of the two options they opt for, added one of them. Alvarez & Marsal declined to comment when contacted by Reuters. Perella Weinberg Partners, which did not immediately respond to a request for comment, sent out a teaser about a week ago for a wide auction process, said the sources, declining to be named as the matter is not public. The teaser includes NMC Health in the UAE and Oman, Al Zahra Hospital Sharjah, Fakih IVF Group and CosmeSurge Clinics L.L.C, said one of the sources. It was sent to a wide range of investors including regional strategic players and sovereign wealth funds, along with private equity players, the source said. Expressions of interest in the assets are due by December 15, 2020 including an indication of valuation, all the three sources said. NMC’s lenders are seeking valuation expectations early in the process as they are keen to have a general idea before a formal sales process begins in January, they said. They are also looking to ensure potential buyers are not taking advantage of NMC Health’s situation by bidding at distressed prices, one of the sources said.