EAEF acquires 46.5% stake in Orchidia for EGP 700 mn

M&A WATCH- We now have a price tag on the EAEF’s acquisition of Orchidia: The Egyptian American Enterprise Fund (EAEF) acquired 46.5% sake in Orchidia Pharma Industries for around EGP 700 mn, Orchidia’s founder and chairman Ossama Abbass tells Al Borsa. EAEF purchased 38% of the company from SPE Capital (formerly Swicorp Private Equity), and 3% from Abbas with the remainder having been bought through a capital increase, he added. The investment will be used to fund a EGP 120 mn expansion, said Abbass. Arqaam Capital acted as sole sell-side financial advisor on the transaction and Matouk Bassiouny acted as legal counsel.