Arqaam announces closing sale of stake in Orchidia to EAEF

M&A WATCH- Arqaam Capital announced closing the sale of a stake in Orchidia Pharma to the Egyptian American Enterprise Fund (EAEF). Arqaam acted as the exclusive sell-side advisor to SPE Capital, formerly Swicorp Private Equity, Orchidia Pharmaceutical Industries, and Dr. Ossama Abbas, the founder, majority shareholder and Chairman of Orchidia and Matouk Bassiouny acted as legal counsel. “The transaction, which closed today following satisfaction of customary closing conditions, consists of a capital increase that will be subscribed to by EAEF and Dr. Ossama Abbas, in addition to EAEF acquiring the stakes owned by SPE Capital and other minority shareholders.” The transaction was first announced in November with EAEF said to acquire 46.5% for EGP 700 mn.