M&A WATCH- An unnamed UK-based fund has made overtures to acquire Egyptian pharma company Amoun from its embattled Canadian parent company Valeant, sources tell Al Borsa. The fund has reportedly made a USD 600 mn offer to acquire 100% of Amoun, and the newspaper is reporting that an unnamed Kuwaiti outfit will soon present a rival offer. The Canadian company, which bought Amoun back in 2015, is expected to divest Amoun within a matter of months. The sale comes as part of Valeant’s plan to reduce its USD 31 bn debt load.

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