M&A WATCH- Rx Healthcare confirms closing United Pharma acquisition: EFG Hermes’ Rx Healthcare Fund has confirmed media reportst that it has acquired a majority stake in meds producer United Pharma, according to an emailed statement (pdf). Rx carried out the acquisition through Nutritius Investment Holdings, a special purpose vehicle established for the acquisition, the statement reads. “The transaction attracted significant interest from prominent Egyptian and Gulf investors, with proceeds being used to expand the company’s product offering to cover generic categories in underserved therapeutic areas and ramp up production for IV products.” Neither the size of the stake nor the value of the transaction were disclosed, but previous press reports had indicated Rx acquired an 80% stake for somewhere around EGP 360 mn.

Advisors: Zaki Hashem & Partners acted as legal counsel to Rx Healthcare, while auditing firm Mazars Egypt acted as buy-side financial advisor. ARC Capital was the sell-side financial advisor, and our friends at ALC were legal counsel to the sellers.