{"id":588455,"date":"2023-06-12T00:00:00","date_gmt":"2023-06-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/12\/negotiations-are-underway-for-investments-in-two-state-owned-pharma-firms-through-a-capital-increase\/"},"modified":"2023-06-12T00:00:00","modified_gmt":"2023-06-12T00:00:00","slug":"negotiations-are-underway-for-investments-in-two-state-owned-pharma-firms-through-a-capital-increase","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/12\/negotiations-are-underway-for-investments-in-two-state-owned-pharma-firms-through-a-capital-increase\/","title":{"rendered":"Negotiations are underway for investments in two state-owned pharma firms through a capital increase"},"content":{"rendered":"

<\/span>Two state-owned pharma firms are up for grabs:<\/span> A number of investors are in talks <\/span>with the Public Enterprises Ministry to acquire stakes in <\/span>two pharma firms<\/a><\/span> including Chemical Industries Development Company (CID) via a capital increase, <\/span>Asharq Business<\/a><\/span> quotes Minister Mahmoud Esmat as saying. Esmat declined to reveal the identity of the investors due to the ongoing negotiations. Information about the stake size and the advisors working on the sale wasn\u2019t disclosed.<\/span><\/p>\n

This isn\u2019t the first we\u2019ve heard about this:<\/span> Al Mal reported in February that the government <\/span>could sell 30-40% of CID<\/a><\/span> to strategic investors, citing unnamed sources.<\/span><\/p>\n

IPO not in the cards: <\/span>Esmat ruled out a public share sale, telling the news outlet that it is not <\/span>necessary due to the interest from strategic investors. <\/span><\/p>\n

CID in numbers:<\/span> The state-owned pharma firm <\/span>had a net working capital of EGP 232.4 mn<\/span> and reported an 8% <\/span>growth in net earnings to <\/span>EGP 61 mn<\/a><\/span> in FY 2021-2022. The Holding Company for Pharma Industries (HoldiPharma) owns 100% of the company.<\/span><\/p>\n

What is the second company?<\/span> Misr Pharma, together with CID, were the only two pharma <\/span>companies included in the list of <\/span>32 state-owned companies<\/a><\/span> earmarked for privatization unveiled in February. Misr Pharma is also a subsidiary of HoldiPharma.<\/span><\/p>\n

Privatization momentum is building:<\/span> The news comes amid a series of reports of potential <\/span>progress in selling state assets under the<\/span> privatization program<\/span>. Over the past week alone we\u2019ve heard that Actis and Malaysian Edra are interested in acquiring <\/span>one of the USD 2 bn Siemens-built power plants<\/a><\/span>; the Port Said terminal operator is <\/span>set to sell a 20% stake<\/a><\/span> on the EGX; and Saudi Egyptian Industrial Investment is close to <\/span>acquiring<\/a><\/span> a 70% stake in a subsidiary of Metallurgical Industries Holding Company (MIH).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

CID could soon have more than one shareholder<\/p>\n","protected":false},"author":1,"featured_media":588456,"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":[7321],"tags":[6703,72,1320,7128,2262,10563,427,81,79],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-588455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-privatization-watch","tag-chemical-industries-development-company","tag-enterpriseam","tag-holdipharma","tag-ma-watch","tag-mahmoud-esmat","tag-misr-pharma","tag-pharma","tag-privatization-watch","tag-public-enterprises-ministry","wpautop","entry"],"acf":{"mongo_id":"110a2154-e125-47b9-9798-d5b3a06eaab8","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/531.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The gov\u2019t is negotiating with investors to inject additional capital in two of its pharma firms","related_issue":[588450],"teaser":"CID could soon have more than one shareholder","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.fd99db3f-d73e-43d8-b63d-bd6239d89087.mp3"},"yoast_head":"\nNegotiations are underway for investments in two state-owned pharma firms through a capital increase - 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\/2023\/06\/12\/negotiations-are-underway-for-investments-in-two-state-owned-pharma-firms-through-a-capital-increase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Negotiations are underway for investments in two state-owned pharma firms through a capital increase\" 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The government wants to sell sizable minority stakes in two state-owned pharma companies earmarked for privatization in the coming six months, Al Mal reports, citing unnamed sources it says are familiar with the matter. Between 30-40% of Chemical Industries\u2026","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/8\/pharma-1600-px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581758,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/state-owned-hotels-company-will-offer-20-to-strategics-and-5-on-the-egx-plus-misr-life-sale-update\/","url_meta":{"origin":588455,"position":3},"title":"State-owned hotels company will offer 20% to strategics \u2014 and 5% on the EGX. 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The government has\u2026","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/marriott-mena-house-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588703,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/15\/the-qataris-are-looking-at-our-hotels-report\/","url_meta":{"origin":588455,"position":4},"title":"The Qataris are looking at our hotels -report","author":"enterpriseam admin","date":"15 June 2023","format":false,"excerpt":"The fund is in talks with the Sovereign Fund of Egypt to acquire up to 30% of the hotels, according to sources","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/741.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":585598,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/26\/egyptian-indian-firms-to-team-up-on-usd-80-mn-pharma-materials-plant\/","url_meta":{"origin":588455,"position":5},"title":"Egyptian, Indian firms to team up on USD 80 mn pharma materials plant","author":"enterpriseam admin","date":"26 April 2023","format":false,"excerpt":"Egyptian and Indian firms will spend USD 80 mn on a pharma materials plant","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/818.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\/588455","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=588455"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/588455\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/588450"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/588456"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=588455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=588455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=588455"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=588455"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=588455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}