{"id":592221,"date":"2023-08-02T00:00:00","date_gmt":"2023-08-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/02\/sfe-not-considering-misr-pharmacies-stake\/"},"modified":"2023-08-02T00:00:00","modified_gmt":"2023-08-02T00:00:00","slug":"sfe-not-considering-misr-pharmacies-stake","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/02\/sfe-not-considering-misr-pharmacies-stake\/","title":{"rendered":"SFE not considering Misr Pharmacies stake"},"content":{"rendered":"

SFE not interested in <\/strong>Misr Pharmac<\/strong>ies: <\/strong>T he Sovereign Fund of Egypt (SF E) is not currently involved in any discussions with the owners of Misr Pharmacies to acquire a stake in the company, a senior official close to the SFE told Enterprise yesterday. Lo<\/a> cal me<\/a> dia<\/a> reported that the fund was in discussions with Misr Pharmacies\u2019 owners to obtain a stake in the firm. <\/p>\n

Misr Pharmacies\u2019 owners are looking to <\/strong>restructure the company<\/strong> to improve sales following a difficult period caused by the challenging economic conditions, local media reported. The company has been under financial pressure due to declining sales though conditions have begun to improve since March, according to the newspaper. <\/p>\n

The SFE likes pharma:<\/strong> Private equity firm B Investments and the SFE earlier this year<\/a> unveiled plans<\/a> to invest in Egypt\u2019s healthcare and pharma industries under two agreements that could channel more than EGP 2 bn into the sector. The two parties set up a pharma logistics and distribution firm<\/a>, EZ International, this year in partnership with leading pharma chain El Ezaby Pharmacy, which the SFE acquired a 49% stake in at the beginning of May. B Investments and EGX-listed MM Group (MTI) have together invested some EGP 505 mn<\/a> in the company. <\/p>\n","protected":false},"excerpt":{"rendered":"

SFE not interested in Misr Pharmacies: T he Sovereign Fund of Egypt (SF E) is not currently involved in any discussions with the owners of Misr Pharmacies to acquire a stake in the company, a senior official close to the SFE told Enterprise yesterday. Lo cal me dia reported that the fund was in discussions […]<\/p>\n","protected":false},"author":1,"featured_media":592222,"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":[72,7128,5086,427,370],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-592221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam","tag-ma-watch","tag-misr-pharmacies","tag-pharma","tag-sovereign-fund-of-egypt","wpautop","entry"],"acf":{"mongo_id":"8304b602-51c0-4ff8-bfa1-d4f8a7866451","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/50.jpg","photo_position":"above","homepage_title":"","full_issue_title":"SFE not considering Misr Pharmacies stake contrary to local media reports","related_issue":[592212],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.d59e9010-a811-4cc7-a1d0-b1fee620ab5f.mp3"},"yoast_head":"\nSFE not considering Misr Pharmacies stake - 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\/08\/02\/sfe-not-considering-misr-pharmacies-stake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SFE not considering Misr Pharmacies stake\" \/>\n<meta property=\"og:description\" content=\"SFE not interested in Misr Pharmacies: T he Sovereign Fund of Egypt (SF E) is not currently involved in any discussions with the owners of Misr Pharmacies to acquire a stake in the company, a senior official close to the SFE told Enterprise yesterday. 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