{"id":617666,"date":"2024-03-26T00:00:00","date_gmt":"2024-03-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/abu-dhabi-wealth-fund-mubadala-acquires-100-of-adwia-parent-company-kelix-bio\/"},"modified":"2024-03-26T00:00:00","modified_gmt":"2024-03-26T00:00:00","slug":"abu-dhabi-wealth-fund-mubadala-acquires-100-of-adwia-parent-company-kelix-bio","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/abu-dhabi-wealth-fund-mubadala-acquires-100-of-adwia-parent-company-kelix-bio\/","title":{"rendered":"Abu Dhabi wealth fund Mubadala acquires 100% of Adwia parent company Kelix Bio"},"content":{"rendered":"

Mubadala acquires full stake in Kelix bio from DPI, BII, and EBRD<\/strong>consortium:<\/strong> Abu Dhabi sovereign wealth fund Mubadala has fully acquired pan-African biopharma platform Kelix bio<\/a>, according to a joint statement (pdf)<\/a>. The selling partners in the acquisition of Kelix bio include its co-founders Development Partners International (DPI), the UK government\u2019s British International Investment (BII), and the European Bank for Reconstruction and Development (EBRD). The acquisition is still pending regulatory approval.<\/p>\n

Kelix bio is no stranger to Egypt: <\/strong>The selling parties established Kelix bio in November 2020 with an initial investment commitment of USD 250 mn<\/a>, a few days after they poured USD 126 mn to acquire 99.6% of Adwia<\/a> \u2014 one of the leading generic pharma companies in Egypt, exporting to the Middle East, Africa, and Eastern Europe. The platform also has subsidiaries across emerging markets, including India\u2019s Celon Labs, Morocco\u2019s PHI, and Kelix bio Malta. The platform's revenues currently top USD 150 mn, with critical meds accessible in 50+ countries spanning Africa, Latin America, Southeast Asia, and the Middle East.<\/p>\n

And nor are DPI, BII, and the EBRD: <\/strong>The London-based private equity outfit DPI recently acquired minority stakes in local pharma player Marcyrl<\/a> and is reportedly<\/a> eyeing up a 37% stake in EGX-listed Middle East Glass. DPI was also joined by BII last year in an alliance that invested USD 165 mn in supermarket chain Kazyon<\/a>. The UK government\u2019s investment fund has also helped back<\/a> state banks and supported several Africa-focussed investment platforms for water security<\/a> and tech startups<\/a>. The EBRD is also an important part of the investment landscape in Egypt, with a long track record of supporting MSMEs<\/a>, funding our green energy ambitions<\/a>, and has invested USD 11.5 bn in the country to date<\/a> \u2014 59% of which went to the private sector.<\/p>\n

A mega exit: <\/strong>The statement did not disclose the value of the transaction but said it is \u201cset to beone of the largest private equity exits and [M&A transactions in the pharma sector] in Africa over the last twenty years.\u201d Representatives from Mubadala, DPI, Kelix, and the EBRD declined to comment on the financial details of the acquisition when Enterprise reached out to them yesterday.<\/p>\n

Advisors:<\/strong> Allen & Overy served as legal advisors to DPI, BII, and EBRD for this transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"

DPI, BII, and EBRD offloaded all of their shares in the company to Mubadala<\/p>\n","protected":false},"author":1,"featured_media":617667,"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":[6965,571,72,7128,1553,734],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-617666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-development-partners-international","tag-ebrd","tag-enterpriseam","tag-ma-watch","tag-mubadala","tag-sovereign-wealth-funds","wpautop","entry"],"acf":{"mongo_id":"3b22f17a-cd51-463b-8ee8-8afc2a879c70","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2193.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Abu Dhabi wealth fund Mubadala acquires 100% of Adwia parent company Kelix Bio","related_issue":[617659],"teaser":"DPI, BII, and EBRD offloaded all of their shares in the company to Mubadala","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.ac89f491-579f-418f-8210-50e49e1f06f4.mp3"},"yoast_head":"\nAbu Dhabi wealth fund Mubadala acquires 100% of Adwia parent company Kelix Bio - 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The newscycle is picking up as we move through our working week. THE BIG STORY TODAY Mubadala acquires full stake in Kelix bio from DPI, BII, and EBRD consortium: Abu Dhabi sovereign wealth fund Mubadala has fully acquired pan-African biopharma platform Kelix bio, according\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","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\/12\/161.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":617712,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/this-evening-banking-sector-shuffle-expected-within-hours\/","url_meta":{"origin":617666,"position":1},"title":"THIS EVENING: Banking sector shuffle expected within hours","author":"enterpriseam admin","date":"26 March 2024","format":false,"excerpt":"Good afternoon, ladies and gentlemen, and happy hump day. We\u2019re passing the midweek point with more local business news cropping up, as we suggested this morning when we last wrote to you.So, when do we eat? Maghrib prayers are at 6:10 pm in the capital city, and you\u2019ll have until\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","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\/2021\/10\/newspaper-reading-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":617868,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/29\/imf-executive-board-talks-egypt-today\/","url_meta":{"origin":617666,"position":2},"title":"IMF Executive board talks Egypt today","author":"enterpriseam admin","date":"29 March 2024","format":false,"excerpt":"Good morning, ladies and gentlemen, and happy Friday. We have reached the tail-end of Ramadan, which means newscycle slowdown, and, of course, the reappearance of the Eid kahk.Where does one begin when it comes to these sugary biscuits? You begin with us, of course. We have tried a wide selection\u2026","rel":"","context":"In "THE WEEK IN REVIEW"","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/572.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":652947,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/23\/abu-dhabi-merges-two-funds-creates-the-worlds-14th-largest\/","url_meta":{"origin":617666,"position":3},"title":"Abu Dhabi merges two funds, creates the world\u2019s 14th largest","author":"enterpriseam admin","date":"23 January 2017","format":false,"excerpt":"Abu Dhabi creates a USD 125 bn fund: The government of Abu Dhabi merged Mubadala Development Co and International Petroleum Investment Co to create the USD 125 bn Mubadala Investment Co, Reuters reported. Using 2015 valuations and data from the Sovereign Wealth Fund Institute, Mubadala Investment would be the world\u2019s\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":591895,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/uae-encouraging-companies-to-invest-in-egypt-mubadala-cdo\/","url_meta":{"origin":617666,"position":4},"title":"UAE encouraging companies to invest in Egypt -Mubadala CDO","author":"enterpriseam admin","date":"19 December 2019","format":false,"excerpt":"UAE encouraging companies to invest in Egypt -Mubadala CDO: The Emirati government is encouraging companies to increase their investments in the Egyptian oil and gas, renewable energy, and construction sectors, Mubadala Chief Development Officer Sheikh Mansour Al Hamed told Investment Minister Sahar Nasr during talks yesterday, according to a ministry\u2026","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":579284,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/ebrd-and-partners-fund-more-green-finance-for-smes-ebrd-bii-lend-usd-100-mn-to-bdc\/","url_meta":{"origin":617666,"position":5},"title":"EBRD and partners fund more green finance for SMEs + EBRD, BII lend USD 100 mn to BdC","author":"enterpriseam admin","date":"1 February 2023","format":false,"excerpt":"DFIs to fund more green projects + privatization candidate BdC gets funding: More funding for green projects will be available to local SMEs courtesy of the European Bank for Reconstruction and Development (EBRD), the EU, and the Green Climate Fund. Meanwhile, EBRD and British International Investment said they would provide\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/6.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\/617666","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=617666"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617666\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/617659"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/617667"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=617666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=617666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=617666"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=617666"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=617666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}