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Wednesday, 28 February 2018

Saudi’s Marei bin Mahfouz Group acquires 25% in DBK Pharma

M&A WATCH- Saudi Arabia’s Marei bin Mahfouz Group has reportedly bought a 25% stake in DBK Pharma, signaling that the firm might have once and for all abandoned plans to relist on the EGX, according to Al Mal. The group acquired the shares for EGP 38.7 mn, and these were bought from family members of chairman Hamdy El Debeky, said Madani Law Firm’s Zahra El Madani, legal adviser on the transaction. Al Mal suggests a share sale was called off because it had not generated enough buzz. El Debeky had said last September that the firm’s IPO would take place in 4Q2017. Sources close to the transaction also said that the company is in talks with other investors to sell another 20% of the company.

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