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Tuesday, 11 April 2017

Saudi Egyptian Industrial Investments acquired 38% in Farcomake for Advanced Medical Industries

CORRECTION- The Saudi Egyptian Industrial Investments Company acquired a 38% stake in medical disposables company Farcomake for Advanced Medical Industries for EGP 35 mn on Sunday. The transaction was managed by Sigma Capital. We had mentioned the name of the acquired company incorrectly in yesterday’s issue. We apologize for the error. The entry has been corrected on our website. H/t Khaled H.

…In related news, Saudi Egyptian Industrial Investments Company said Farcomake is investing EGP 100 mn in expanding production lines to cover domestic demand for kidney disease treatments and increase exports. The investment will be covered by an EGP 65 mn loan and the EGP 35 mn capital raising proceeds, according to Al Mal.

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