{"id":559757,"date":"2021-02-03T04:14:50","date_gmt":"2021-02-03T04:14:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/rameda-throws-its-hat-in-the-ring-for-gsks-egypt-business\/"},"modified":"2021-02-03T04:14:50","modified_gmt":"2021-02-03T04:14:50","slug":"rameda-throws-its-hat-in-the-ring-for-gsks-egypt-business","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/rameda-throws-its-hat-in-the-ring-for-gsks-egypt-business\/","title":{"rendered":"Rameda throws its hat in the ring for GSK\u2019s Egypt business"},"content":{"rendered":"

<\/a> Ladies and gentlemen, we have a good, old-fashioned bidding war: <\/strong>Rameda Pharma is the latest to show interest in GlaxoSmithKline's Egypt business, joining LSE-listed Hikma Pharma<\/a> and pharma industry investor Acdima<\/a> \u2014 who are both planning their own bids. The company has submitted a non-binding letter of interest to GSK and is asking the multinational pharma giant for the green light to start due diligence, Rameda said in an EGX filing (pdf)<\/a> yesterday.<\/p>\n

BACKGROUND- <\/strong>The race began last week, when GSK said that it had signed a non-binding agreement with Hikma<\/a> ahead of a potential sale of the British pharma major\u2019s 91.2% stake in the Egypt commercialization and manufacturing business. Both Rameda and Acdima plan to target the same stake through a tender offer.<\/p>\n

Are you advising one of the parties? <\/strong>Let us know on editorial@enterprise.press.<\/p>\n

IN OTHER M&A NEWS-<\/strong><\/p>\n

Hong Kong-based <\/strong>Zeta Investments<\/a><\/strong> has submitted an offer to purchase 90% of <\/strong>brokerage house <\/strong>Alexandria National Company for Financial Investments<\/strong> (ANFI) at EGP 5.51 per share, according to disclosures from shareholders El Kahera El Watania Investment (KWIN) (pdf)<\/a> and Abu Dhabi Islamic Bank (ADIB) (pdf)<\/a>.<\/p>\n

Who owns what?<\/strong> KWIN currently owns some 40% of ANFI\u2019s shares, while ADIB directly holds 9%. The Gulf lender has a total indirect stake amounting to 84.99%, due to owning a 74.75% stake in KWIN (pdf)<\/a> and its subsidiary, ADI Lease, holding a 34.99% stake<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ladies and gentlemen, we have a good, old-fashioned bidding war: Rameda Pharma is the latest to show interest in GlaxoSmithKline's Egypt business, joining LSE-listed Hikma Pharma and pharma industry investor Acdima \u2014 who are both planning their own bids. The company has submitted a non-binding letter of interest to GSK and is asking the multinational […]<\/p>\n","protected":false},"author":1,"featured_media":559758,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[469,3714,72,1076,7128,427,449,3713],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-abu-dhabi-islamic-bank","tag-alexandria-national-company-for-financial-investments","tag-enterpriseam","tag-glaxosmithkline","tag-ma-watch","tag-pharma","tag-rameda-pharma","tag-zeta-investments","wpautop","entry"],"acf":{"mongo_id":"f9c4b03c-7e07-4ed4-ba5f-048a3454ec51","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/58.jpg","photo_position":"above","related_issue":[559753],"teaser":"","voice_url":""},"yoast_head":"\nRameda throws its hat in the ring for GSK\u2019s Egypt business - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/rameda-throws-its-hat-in-the-ring-for-gsks-egypt-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rameda throws its hat in the ring for GSK\u2019s Egypt business\" \/>\n<meta property=\"og:description\" content=\"Ladies and gentlemen, we have a good, old-fashioned bidding war: Rameda Pharma is the latest to show interest in GlaxoSmithKline's Egypt business, joining LSE-listed Hikma Pharma and pharma industry investor Acdima \u2014 who are both planning their own bids. The company has submitted a non-binding letter of interest to GSK and is asking the multinational […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/rameda-throws-its-hat-in-the-ring-for-gsks-egypt-business\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-03T04:14:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/58.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/rameda-throws-its-hat-in-the-ring-for-gsks-egypt-business\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/rameda-throws-its-hat-in-the-ring-for-gsks-egypt-business\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Rameda throws its hat in the ring for GSK\u2019s Egypt business\",\"datePublished\":\"2021-02-03T04:14:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/rameda-throws-its-hat-in-the-ring-for-gsks-egypt-business\/\"},\"wordCount\":239,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/rameda-throws-its-hat-in-the-ring-for-gsks-egypt-business\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/58.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Abu Dhabi Islamic Bank\",\"Alexandria National Company for Financial Investments\",\"EnterpriseAM\",\"GlaxoSmithKline\",\"M&A Watch\",\"pharma\",\"Rameda Pharma\",\"Zeta Investments\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/rameda-throws-its-hat-in-the-ring-for-gsks-egypt-business\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/rameda-throws-its-hat-in-the-ring-for-gsks-egypt-business\/\",\"name\":\"Rameda throws its hat in the ring for GSK\u2019s Egypt business - 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GSK said the decision is meant to minimize disruption to the business and save time and resources that would\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/153.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560791,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/14\/gsk-hikma-end-acquisition-talks\/","url_meta":{"origin":559757,"position":1},"title":"GSK, Hikma end acquisition talks","author":"enterpriseam admin","date":"14 March 2021","format":false,"excerpt":"Hikma Pharma won\u2019t be acquiring GlaxoSmithKline\u2019s Egypt unit: GSK and Hikma Pharma have agreed to end talks over a takeover bid submitted in January by the UK-listed company that would have seen it acquire a majority stake in GSK\u2019s Egypt arm, both companies said (here and here \u2013 pdfs) on\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/185.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565019,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/14\/gsk-is-staying-put-for-now\/","url_meta":{"origin":559757,"position":2},"title":"GSK is staying put \u2014 for now","author":"enterpriseam admin","date":"14 March 2021","format":false,"excerpt":"GSK puts Egypt exit on the backburner: GlaxoSmithKline has shelved plans to sell its units in Egypt and Tunisia following the breakdown of talks with UK-listed Hikma Pharma, the company said in a disclosure (pdf) to the EGX today. The pharma giant initially wanted to sell its entire 91.2% stake\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":565042,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/15\/gsk-egypt-rejects-acdimas-bid-to-start-due-diligence-closing-the-door-to-a-sale\/","url_meta":{"origin":559757,"position":3},"title":"GSK Egypt rejects Acdima\u2019s bid to start due diligence, closing the door to a sale","author":"enterpriseam admin","date":"15 March 2021","format":false,"excerpt":"GlaxoSmithKline Egypt\u2019s board of directors has rejected a request submitted by Acdima to start due diligence on the company, GSK said in an EGXdisclosure (pdf) this morning following a board meeting Sunday. Acdima submitted the request last week following the breakdown of talks between GSK and the UK\u2019s Hikma Pharma.This\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/473.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560270,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/22\/ibnsina-to-distribute-bayer-meds-in-egypt-rameda-looks-to-invest\/","url_meta":{"origin":559757,"position":4},"title":"Ibnsina to distribute Bayer meds in Egypt, Rameda looks to invest","author":"enterpriseam admin","date":"22 February 2021","format":false,"excerpt":"Ibnsina Pharma has signed an agreement with Germany\u2019s Bayer to import and distribute products from its OTC and Rx-based portfolios, the companies said in a joint statement (pdf) today. Bayer wants to grow in Egypt: Bayer Consumer Health wants to increase sales by 30% in 2021 after recording sales of\u2026","rel":"","context":"In "PHARMA"","block_context":{"text":"PHARMA","link":"https:\/\/enterpriseam.com\/egypt\/category\/pharma\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/314.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559722,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/02\/a-bidding-war-for-gsks-egyptian-arm\/","url_meta":{"origin":559757,"position":5},"title":"A bidding war for GSK\u2019s Egyptian arm?","author":"enterpriseam admin","date":"2 February 2021","format":false,"excerpt":"Acdima may have just touched off a bidding war for GlaxoSmithKline's Egypt business, according to a regulatory filing (pdf) yesterday, less than a week after the global player revealed that Hikma was interested in a transaction. Acdima, a pharma industry investor focused on Arab countries, plans to make an offer\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/37.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559757","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=559757"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559757\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/559753"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/559758"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=559757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=559757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=559757"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=559757"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=559757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}