{"id":606617,"date":"2023-09-19T00:00:00","date_gmt":"2023-09-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/19\/gulf-investors-eyeing-united-company-of-pharmacists-acquisition\/"},"modified":"2023-09-19T00:00:00","modified_gmt":"2023-09-19T00:00:00","slug":"gulf-investors-eyeing-united-company-of-pharmacists-acquisition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/19\/gulf-investors-eyeing-united-company-of-pharmacists-acquisition\/","title":{"rendered":"Gulf investors eyeing United Company of Pharmacists acquisition"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> A <\/strong><strong> nother <\/strong><strong> Gulf acquisition of an Egyptian pharma group in the works? <\/strong>A number of Gulf investors are interested in acquiring a stake in distressed pharma wholesaler <a target=\"_blank\" href=\"https:\/\/www.unitedcompanyofpharmacists.com\/\" style=\"\" rel=\"noopener\">United Company of Pharmacists<\/a>(UCP), <a target=\"_blank\" href=\"https:\/\/shorturl.at\/btvES\" style=\"\" rel=\"noopener\">Al Mal<\/a> reported yesterday, citing sources familiar with the matter. The company, one of the largest pharma distributors in Egypt, is looking to find new sources of finance to solve a growing financial crisis at the firm caused by the accumulation of \u201chuge\u201d amounts of debt, the newspaper reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Who\u2019s interested? <\/strong> Saudi company <a target=\"_blank\" href=\"https:\/\/www.tamergroup.com\/\" style=\"\" rel=\"noopener\">Tamer Group<\/a> was the only investor named by the newspaper as having entered negotiations with UCP over a potential acquisition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What we know: <\/strong>UCP\u2019s general manager Mohamed Galal confirmed to Enterprise yesterday that several Arab investors and funds have expressed interest in investing but that the company has not yet received any takeover offers. We were unable to confirm the identities of any of the investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Who owns what: <\/strong> The family of the founder, Hossam Omar, jointly own UCP with an American partner in a 50\/50 split, who Galal declined to disclose when we asked. We believe the company to be Walgreens Boots Alliance, which <a target=\"_blank\" href=\"https:\/\/www.walgreensbootsalliance.com\/news-media\/press-releases\/2014\/walgreens-and-alliance-boots-complete-step-2-merger-form-first\" style=\"\" rel=\"noopener\">acquired UCP\u2019s former shareholder<\/a> <a target=\"_blank\" href=\"https:\/\/www.walgreensbootsalliance.com\/news-media\/press-releases\/2014\/walgreens-and-alliance-boots-complete-step-2-merger-form-first\" style=\"\" rel=\"noopener\">Alliance Boots<\/a> in 2014. The company wants to sell its entire stake in the company, according to Al Mal.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> UCP is a major player: <\/strong> The group has a third of the share of the local pharma distribution market, according to <a target=\"_blank\" href=\"https:\/\/www.unitedcompanyofpharmacists.com\/home\/-\/asset_publisher\/E1eQ\/content\/about-us?redirect=https%3A%2F%2Fwww.unitedcompanyofpharmacists.com%2Fhome%3Fp_p_id%3D101_INSTANCE_E1eQ%26p_p_lifecycle%3D0%26p_p_state%3Dnormal%26p_p_mode%3Dview%26p_p_col_id%3Dcolumn-1%26p_p_col_pos%3D1%26p_p_col_count%3D7\" style=\"\" rel=\"noopener\">the group\u2019s website<\/a>. UCP currently supplies 38.5k pharmacies and 2k hospitals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Just one option: <\/strong><a target=\"_blank\" href=\"https:\/\/www.dailynewsegypt.com\/2023\/08\/06\/egypts-united-company-of-pharmacists-studies-comprehensive-restructuring-scenarios\/\" style=\"\" rel=\"noopener\">Daily News Egypt<\/a> reported last month that UCP has been looking at several options for financially restructuring the company, including a stake sale to a strategic investor and fresh borrowing. <\/p>\n<p style=\"padding-top:-1pt;margin:0;padding-left:0;padding-bottom:-1pt;line-height:1.2857142857142858;orphans:2;widows:2;text-align:left;padding-right:0\"><strong> What\u2019s next: <\/strong> Galal said that he expects a partnership agreement or investment framework to be finalized within the next three months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> POST FOR INVESTMENT INVESTS IN ROADERZ- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> The state postal service just took a minority stake in a logistics startup: <\/strong> The investment and logistics arms of Egypt Post will acquire a 40% stake in logistics platform <a target=\"_blank\" href=\"https:\/\/www.roaderz.com\/\" style=\"\" rel=\"noopener\">Roaderz<\/a>, the company said in <a target=\"_blank\" href=\"https:\/\/bit.ly\/45X6cOX\" style=\"\" rel=\"noopener\">a statement<\/a> yesterday. Post for Investment and Post for Distribution will both acquire shares in the company, according to the statement, which didn\u2019t disclose the transaction value. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Roaderz: <\/strong> Founded in 2021 by e-payments giant Fawry, logistics startup Mylerz, tech solutions firm Softec, and Confida Ventures Managing Partner Ammar Zawaideh, Roaderz is a crowdsourcing platform that connects couriers and small delivery firms with e-commerce merchants, while allowing sellers to request couriers on demand or schedule their services in advance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An unnamed American shareholder is reportedly trying to sell their 50% stake in the company<\/p>\n","protected":false},"author":1,"featured_media":606618,"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":[159,72,7128,427,6818,1025,11608,11607],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-606617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-egypt-post","tag-enterpriseam","tag-ma-watch","tag-pharma","tag-post-for-investment","tag-roaderz","tag-tamer-group","tag-united-company-of-pharmacists","wpautop","entry"],"acf":{"mongo_id":"03539fbe-dd50-4e0e-8d86-735aaaf463e7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/1181.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Gulf investors eyeing stake acquisition in Egyptian pharma distributor United Company of Pharmacists","related_issue":[606610],"teaser":"An unnamed American shareholder is reportedly trying to sell their 50% stake in the company","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.873db0bb-fe20-4d69-a7be-4d497bc5384b.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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PLUS: News from Hassan Allam, Thales, Elsewedy Electric, Oriental Weavers","author":"enterpriseam admin","date":"16 November 2023","format":false,"excerpt":"HO Group\u2019s pharma arm is now the sole owner of United Company of Pharmacists","rel":"","context":"In &quot;Also on our Radar&quot;","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\/11\/903.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568012,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/revenge-of-the-luddites\/","url_meta":{"origin":606617,"position":2},"title":"Revenge of the Luddites","author":"enterpriseam admin","date":"15 December 2020","format":false,"excerpt":"Ibnsina Pharma has ended its standoff with the Pharmacists Syndicate, announcing yesterday that it would walk back its acquisition of 75% of 3elagi Tech, which owns digital pharmacy platform 3elagi. \u201cIbnsina Pharma is keen to maintain strong relations with pharmacists who are the focal point for the company and the\u2026","rel":"","context":"In &quot;Tech&quot;","block_context":{"text":"Tech","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/tech\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/261.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":606660,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/19\/this-evening\/","url_meta":{"origin":606617,"position":3},"title":"THIS EVENING:","author":"enterpriseam admin","date":"19 September 2023","format":false,"excerpt":"Good afternoon, wonderful people. We come to you after bringing a close to the second and final day of the Enterprise Finance Forum, which we\u2019re very happy to report was another full house and again brought insightful conversations on stage. On behalf of all of our guests, our sponsors, and\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1217.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576366,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/pharmacists-syndicate-boycotts-ibnsina-pharma-alleging-misuse-of-3elagi-app\/","url_meta":{"origin":606617,"position":4},"title":"Pharmacists Syndicate boycotts Ibnsina Pharma alleging misuse of 3elagi app","author":"enterpriseam admin","date":"22 November 2020","format":false,"excerpt":"DISPUTE WATCH-Ibnsina faces boycott, legal action from Pharmacists Syndicate: The Pharmacists Syndicate called on its members to boycott Ibnsina Pharma and will pursue legal action against EGX-listed company for allegedly using the 3elagi app to sell product directly to customers, the syndicate said in a statement on Wednesday. The pharmacists\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":568253,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/revenge-of-the-luddites-part-ii\/","url_meta":{"origin":606617,"position":5},"title":"Revenge of the Luddites, Part II","author":"enterpriseam admin","date":"23 December 2020","format":false,"excerpt":"The Pharmacists Syndicate is taking its beef with the 21st century to 3elagi, filing a lawsuit yesterday against the digital pharmacy platform for selling directly to consumers without a pharmacist as an intermediary, Masrawy reports. The case accuses the app of contravening a 1955 law that says only pharmacies and\u2026","rel":"","context":"In &quot;DISPUTE WATCH&quot;","block_context":{"text":"DISPUTE WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/dispute-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/395.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\/606617","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=606617"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/606617\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/606610"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/606618"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=606617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=606617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=606617"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=606617"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=606617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}