{"id":576518,"date":"2020-11-29T03:59:50","date_gmt":"2020-11-29T03:59:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/29\/gcc-wealth-funds-eye-usd-700-mn-amoun-pharma-acquisition\/"},"modified":"2020-11-29T03:59:50","modified_gmt":"2020-11-29T03:59:50","slug":"gcc-wealth-funds-eye-usd-700-mn-amoun-pharma-acquisition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/29\/gcc-wealth-funds-eye-usd-700-mn-amoun-pharma-acquisition\/","title":{"rendered":"GCC wealth funds eye USD 700 mn Amoun Pharma acquisition"},"content":{"rendered":"

<\/a> Amoun Pharma<\/a><\/strong> could be the target of a joint acquisition bid by the Emirati and <\/strong>Saudi sovereign wealth funds<\/strong>, who are said to be eyeing Bausch Health\u2019s unit in Egypt as part of a larger, longer-term partnership, according to a Bloomberg<\/a> report citing what it says are sources familiar with the matter. There were no details on the timeline or value of the potential transaction. We noted last month<\/a> that the price tag could be north of USD 700 mn. Bausch \u2014 back before it rebranded to sidestep the tarnished Valeant name<\/a> \u2014 acquired Amoun, which manufactures human and veterinary meds, in 2015 for USD 800 mn and some contingency payments.<\/p>\n

Saudi, UAE funds in talks over a wider co-investment plan: <\/strong>Saudi\u2019s USD 347 bn Public Investment Fund (PIF) and ADQ, the Abu Dhabi-based USD 136 bn sovereign fund, have recently been working closely on transactions in key industries such as healthcare, food security, and industrials, Bloomberg\u2019s sources said.<\/p>\n

ADQ seems to like Egypt: <\/strong>ADQ invested<\/a> in October in Indian retailer Lulu\u2019s recent foray into Egypt, and, according to Bloomberg, the PIF is mulling the same. ADQ was also said in October to be mulling a bid<\/a> for frozen meats and poultry company Atyab.<\/p>\n

OTHER M&A NEWS- State-owned <\/strong>Banque Misr and Al Ahly Capital acquired a 40% stake <\/strong>in Western Union\u2019s local representative<\/strong>, International Business Associates Group<\/a> (IBAG), according to a statement<\/a>, which did not put a value on the transaction. Al Ahly Capital is the National Bank of Egypt\u2019s investment arm. IBA traces its roots to the late 1970s, when the late WIlliam Harrison opened a business that aimed to help foreign investors do business here. At its height, it owed Western Union and FedEx in Egypt and published Egypt Today and Business Today Egypt magazines.<\/p>\n

Advisors: Zaki Hashem & Partners<\/strong> acted as legal advisor for the state-owned banks, while Banque Misr\u2019s investment firm Misr Capital<\/strong> acted as financial advisor. Bahaa-Eldin Law Office<\/strong> (in cooperation with BonelliErede) was the legal advisor for IBAG, while Ernst & Young<\/strong> conducted due diligence on the transaction.<\/p>\n

M&A IN BRIEF-<\/p>\n

Bahrain\u2019s Arab Banking Corporation (Bank ABC) has wrapped up due diligence on<\/strong> Blom Bank Egypt <\/strong>and plans to make a \u201cgenerous\u201d offer to acquire the Lebanese bank\u2019s Egypt assets, Masrawy<\/a> reports, citing unnamed industry sources. Bank ABC is bidding against fellow GCC bank Emirates NBD.<\/p>\n

The National Bank of Egypt (NBE) will complete its acquisition of a 24%<\/strong> stake in Aman by the end of the year<\/strong>, the local press<\/a> reports, citing unnamed sources it says are familiar with the matter. Parent company Raya Holding approved the sale of the minority stake in the company\u2019s non-banking financial services arm earlier this month<\/a>. Advisors:<\/strong> NBE recruited Grant Thornton<\/strong> earlier in September<\/a> as its financial advisor on the transaction, while Matouk Bassiouny & Hennawy<\/strong> is serving as legal counsel.<\/p>\n

Speed Medical plans <\/strong>to acquire the Noor El Islam Medical Labs<\/a><\/strong> in Beheira and Kafr El Sheikh for a maximum of EGP 6.5 mn as well as El Sharq Labs<\/strong> in Kafr El Sheikh for up to EGP 2.5 mn. The lab and diagnostic testing company has also set up<\/a> a healthcare facility management arm to offer management services to other operators.<\/p>\n

Pioneers Hold<\/strong>ing\u2019s demerger plans were approved by shareholders last week<\/strong>, moving the company closer to splitting into three entities specializing in financial services, real estate, and the industrial sector, according to an EGX filing (pdf)<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amoun Pharma could be the target of a joint acquisition bid by the Emirati and Saudi sovereign wealth funds, who are said to be eyeing Bausch Health\u2019s unit in Egypt as part of a larger, longer-term partnership, according to a Bloomberg report citing what it says are sources familiar with the matter. There were no […]<\/p>\n","protected":false},"author":1,"featured_media":576519,"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":[299,3872,473,2154,72,7115,7128,131,219,551,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-576518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-adq","tag-amoun-pharma","tag-bahrain","tag-bank-abc","tag-enterpriseam","tag-healthcare","tag-ma-watch","tag-manufacturing","tag-saudi-arabia","tag-speed-medical","tag-uae","wpautop","entry"],"acf":{"mongo_id":"ad816f00-8490-417f-8fc0-d8b124dcd05f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/11\/288.jpg","photo_position":"above","related_issue":[576514],"teaser":"","voice_url":""},"yoast_head":"\nGCC wealth funds eye USD 700 mn Amoun Pharma acquisition - 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\/2020\/11\/29\/gcc-wealth-funds-eye-usd-700-mn-amoun-pharma-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GCC wealth funds eye USD 700 mn Amoun Pharma acquisition\" \/>\n<meta property=\"og:description\" content=\"Amoun Pharma could be the target of a joint acquisition bid by the Emirati and Saudi sovereign wealth funds, who are said to be eyeing Bausch Health\u2019s unit in Egypt as part of a larger, longer-term partnership, according to a Bloomberg report citing what it says are sources familiar with the matter. There were no […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/29\/gcc-wealth-funds-eye-usd-700-mn-amoun-pharma-acquisition\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-29T03:59:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/11\/288.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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/29\/gcc-wealth-funds-eye-usd-700-mn-amoun-pharma-acquisition\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/29\/gcc-wealth-funds-eye-usd-700-mn-amoun-pharma-acquisition\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"GCC wealth funds eye USD 700 mn Amoun Pharma acquisition\",\"datePublished\":\"2020-11-29T03:59:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/29\/gcc-wealth-funds-eye-usd-700-mn-amoun-pharma-acquisition\/\"},\"wordCount\":580,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/29\/gcc-wealth-funds-eye-usd-700-mn-amoun-pharma-acquisition\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/11\/288.jpg?fit=%2C&ssl=1\",\"keywords\":[\"ADQ\",\"Amoun Pharma\",\"Bahrain\",\"Bank ABC\",\"EnterpriseAM\",\"healthcare\",\"M&A Watch\",\"Manufacturing\",\"Saudi Arabia\",\"Speed Medical\",\"UAE\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/29\/gcc-wealth-funds-eye-usd-700-mn-amoun-pharma-acquisition\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/29\/gcc-wealth-funds-eye-usd-700-mn-amoun-pharma-acquisition\/\",\"name\":\"GCC wealth funds eye USD 700 mn Amoun Pharma acquisition - 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Dhabi\u2019s sovereign wealth fund ADQ is eyeing Bausch Health\u2019s unit in Egypt, AmounPharma, ahead of a potential acquisition with a price tag that could be north of USD 700 mn, Bloomberg reports, citing people familiar\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":564769,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/25\/sfe-to-invest-10-in-adqs-acquisition-of-amoun-pharma\/","url_meta":{"origin":576518,"position":1},"title":"SFE to invest 10% in ADQ\u2019s acquisition of Amoun Pharma","author":"enterpriseam admin","date":"25 February 2021","format":false,"excerpt":"SFE to get in on ADQ\u2019s acquisition of Amoun Pharma: The Sovereign Wealth Fund of Egypt (SFE) is reportedly going to join Abu Dhabi\u2019s sovereign wealth fund ADQ in its bid to acquire 100% of Bausch Health\u2019s unit in Egypt, Amoun Pharma, sources close to the matter reportedly told Hapi\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\/2\/510.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563297,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/27\/adq-still-wants-amoun-pharma\/","url_meta":{"origin":576518,"position":2},"title":"ADQ still wants Amoun Pharma","author":"enterpriseam admin","date":"27 June 2021","format":false,"excerpt":"ADQ moves forward with EGP 10 bn bid for Amoun Pharma: A subsidiary of Abu Dhabi\u2019s sovereign wealth fund ADQ is seeking Financial Regulatory Authority approval to launch a mandatory tender offer for up to 100% of Bausch Health\u2019s unit in Egypt, Amoun Pharma, in what could potentially be an\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\/6\/327.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561286,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/01\/adq-reaches-agreement-to-snag-amoun-pharma\/","url_meta":{"origin":576518,"position":3},"title":"ADQ reaches agreement to snag Amoun Pharma","author":"enterpriseam admin","date":"1 April 2021","format":false,"excerpt":"Abu Dhabi\u2019s sovereign wealth fund ADQ is acquiring 100% of Bausch Health\u2019s unit in Egypt, Amoun Pharma, in a USD 740 mn transaction, Bausch said in a statement yesterday. The agreement comes as Canada\u2019s Bausch company looks to pare down debt. The definitive agreement includes a mandatory tender offer by\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\/4\/9.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563762,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/15\/shareholders-agree-to-sell-99-of-amoun-pharma-to-adq\/","url_meta":{"origin":576518,"position":4},"title":"Shareholders agree to sell 99% of Amoun Pharma to ADQ","author":"enterpriseam admin","date":"15 July 2021","format":false,"excerpt":"ADQ looks like it\u2019s getting almost all of Amoun: Amoun Pharma shareholders have agreed to sell a 99.9% stake in the company to Abu Dhabi sovereign fund ADQ in a mandatory tender offer, the EGX said in a statement yesterday. The 10-day subscription period for the MTO, which expired yesterday,\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\/7\/208.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566733,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/sfe-loves-pharma-manufacturing-confirms-its-bidding-for-a-piece-of-amoun-with-adq\/","url_meta":{"origin":576518,"position":5},"title":"SFE loves pharma manufacturing, confirms it\u2019s bidding for a piece of Amoun with ADQ","author":"enterpriseam admin","date":"11 July 2021","format":false,"excerpt":"The Sovereign Fund of Egypt has plenty of appetite for pharma, with CEO Ayman Soliman telling Hapi Journal the company is in talks with potential partners to invest in domestic pharma manufacturing targeting both the domestic and export markets. Data from the government\u2019s Unified Procurement Authority will, in part, guide\u2026","rel":"","context":"In "SPEED ROUND: INVESTMENT WATCH"","block_context":{"text":"SPEED ROUND: INVESTMENT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/378.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\/576518","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=576518"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/576518\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/576514"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/576519"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=576518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=576518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=576518"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=576518"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=576518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}