EBRD has fully exited its investment in Ibnsina Pharma: The European Bank for Reconstruction and Development (EBRD) has sold the last 8.8% it held of EGX-listed pharma distributor Ibnsina Pharma, the lender said yesterday.

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The price tag: EBRD didn’t disclose the value of the sale, but EGX yesterday said an EGP 555.5 mn transaction was executed on Ibnsina Pharma’s shares. Some 88.9 mn shares were sold.

A successful investment: Since the EBRD invested in the company, it has “grown strongly, becoming the top pharma distributor in the Egyptian market and successfully expanding into a number of non-pharma operations.”

By the numbers: Ibnsina Pharma currently holds a 30.8% share of the national pharma distribution market. It also led Egypt’s pharma and hospitals sector last year and ranked first in public and private hospitals, the company said in a release (pdf) earlier this week.

What they said: “Ibnsina Pharma has been an incredibly successful investment for the Bank, despite the very challenging Egyptian macro environment,” said our friend Hassan Massoud, the bank’s associate director for private equity in the Southern Mediterranean. “The scale and timing of this transaction is testament to the depth of the EGX as a credible exit venue for successful private equity investments,” he continued.

Remember: The EBRD acquired a 20% stake in the pharma player back in 2015 to help the company fund the development of warehouses, distribution centres and overall supply chain.

EBRD is still long Egypt: The bank’s other investments here include a who’s-who of corporate Egypt, including Infinity, Hassan Allam Renewable Energy, GlobalCorp, and Tamweely. It has previously been an investor in a leading national hospitals group and has invested some EUR 13.8 bn here since 2012.

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