{"id":560149,"date":"2021-02-17T03:47:19","date_gmt":"2021-02-17T03:47:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/17\/adwias-former-owners-eye-toll-manufacturing-nuwa-capital-closes-usd-75-mn-fundraising-round\/"},"modified":"2021-02-17T03:47:19","modified_gmt":"2021-02-17T03:47:19","slug":"adwias-former-owners-eye-toll-manufacturing-nuwa-capital-closes-usd-75-mn-fundraising-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/17\/adwias-former-owners-eye-toll-manufacturing-nuwa-capital-closes-usd-75-mn-fundraising-round\/","title":{"rendered":"Adwia\u2019s former owners eye toll manufacturing + Nuwa Capital closes USD 75 mn fundraising round"},"content":{"rendered":"

<\/a> The former owners of Adwia Pharma are investing more than EGP 1 bn to set up a<\/strong> new toll manufacturing business<\/strong>, Al Mal<\/a> reports. Hossam Taher and his family \u2014 who sold their 90% stake in Adwia<\/a> to a European Bank for Reconstruction and Development-CDC Group consortium last year \u2014 have dubbed their new venture \u201cDawana,\u201d which will launch this year with a plant in Obour City, Taher told the newspaper. The facility's land was formerly owned by Adwia and wasn\u2019t included in the recent transaction, he said.<\/p>\n

In detail:<\/strong> The new outfit will run three production lines at launch, but seven more will be up and running by the end of the year after a EUR 55 mn agreement was sealed with an undisclosed German company, Taher added. Taher and his family have other, unnamed partners in the venture.<\/p>\n

Background:<\/strong> The EBRD, CDC and an unnamed UK fund acquired 99.6% of Adwia in November in a USD 126 mn transaction.<\/p>\n

OTHER INVESTMENT NEWS-<\/strong><\/p>\n

Emirati-Saudi VC firm Nuwa Capital is tight-lipped on its plans<\/strong> for <\/strong>Egypt<\/strong> after announcing (pdf)<\/a> yesterday it had closed its first fund, raising USD 75 mn of its USD 100 mn target. The team told us that they will announce new investments in the coming weeks and that they are keen on healthcare, fintech, foodtech and real estate technology, but declined to give details on their plans for Egypt. Nuwa has already invested in Cairo-based furniture marketplace Homzmart<\/a> before closing the fund.<\/p>\n

Al Futtaim Group is investing EGP 200 mn in the renovation of its <\/strong>Cairo Festival City mall<\/a><\/strong>, Al Futtaim Malls Group Director Timothy Earnest told the local press<\/a> this week. The first phase of the development started this month, and is expected to be finished at the end of 2021, he said. This investment is part of a EGP 2 bn program to expand the mall that will see the addition of 80 retail stores and 15 food outlets<\/strong>. Earnest said this week that the development is now being earmarked for completion in 1Q2023 \u2014 a year later than expected<\/a>. Thanks, covid.<\/p>\n

CLARIFICATION- The facility being built by the former owners of Adwia is a toll manufacturing plant being built on land formerly owned by Adwia, not a new pharma manufacturer as we had said in a previous version of this story. (Updated 17 February 2021)<\/p>\n","protected":false},"excerpt":{"rendered":"

The former owners of Adwia Pharma are investing more than EGP 1 bn to set up a new toll manufacturing business, Al Mal reports. Hossam Taher and his family \u2014 who sold their 90% stake in Adwia to a European Bank for Reconstruction and Development-CDC Group consortium last year \u2014 have dubbed their new venture […]<\/p>\n","protected":false},"author":1,"featured_media":560150,"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":[7272],"tags":[3271,571,72,125,427,338],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-cdc-group","tag-ebrd","tag-enterpriseam","tag-investment-watch","tag-pharma","tag-retail","wpautop","entry"],"acf":{"mongo_id":"9141dcc0-3f6c-42e2-9c70-a447784a3d6e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/250.jpg","photo_position":"above","related_issue":[560143],"teaser":"","voice_url":""},"yoast_head":"\nAdwia\u2019s former owners eye toll manufacturing + Nuwa Capital closes USD 75 mn fundraising round - 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\/17\/adwias-former-owners-eye-toll-manufacturing-nuwa-capital-closes-usd-75-mn-fundraising-round\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adwia\u2019s former owners eye toll manufacturing + Nuwa Capital closes USD 75 mn fundraising round\" \/>\n<meta property=\"og:description\" content=\"The former owners of Adwia Pharma are investing more than EGP 1 bn to set up a new toll manufacturing business, Al Mal reports. 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An EBRD representative declined\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573386,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/04\/dpi-adwia-end-acquisition-talks-after-failing-to-agree-valuation\/","url_meta":{"origin":560149,"position":3},"title":"DPI, Adwia end acquisition talks after failing to agree valuation","author":"enterpriseam admin","date":"4 August 2020","format":false,"excerpt":"M&A WATCH- DPI, Adwia end acquisition talks after failing to agree valuation: Acquisition talks between UK Africa-focused private equity firm Development Partners International (DPI) and pharma manufacturer Adwia have broken down after the two sides failed to agree on a valuation, Adwia Chairman Hossam Taher told Al Mal. Adwia rejected\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543581,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/08\/adwia-to-invest-egp-400-mn-in-2022-to-add-production-lines\/","url_meta":{"origin":560149,"position":4},"title":"Adwia to invest EGP 400 mn in 2022 to add production lines","author":"enterpriseam admin","date":"8 February 2022","format":false,"excerpt":"Pharma manufacturer Adwia will invest EGP 400 mn this year to add new production lines and make upgrades at its 10th of Ramadan factory, Al Borsa quoted company head Mohamed Khattab as saying. The company is also planning to take 11 new products to market this year, and to tap\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/100.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576245,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/17\/ebrd-cdc-dpi-consortium-create-usd-250-mn-pharma-investment-platform-for-egypt\/","url_meta":{"origin":560149,"position":5},"title":"EBRD, CDC, DPI consortium create USD 250 mn pharma investment platform for Egypt","author":"enterpriseam admin","date":"17 November 2020","format":false,"excerpt":"INVESTMENT WATCH- Alphabet soup of global investors building USD 250 mn pharma investment platform for Egypt: The European Bank for Reconstruction and Development (EBRD) along with the UK\u2019s Commonwealth Development Corporation (CDC) Group and UK-based Africa-focused Development Partners International (DPI) have created a joint investment platform focusing on the pharma\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560149","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=560149"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560149\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/560143"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/560150"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=560149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=560149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=560149"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=560149"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=560149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}