DPI to purchase pharma manufacturer Adwia for USD 200 mn
M&A WATCH- DPI and Adwia shake hands on USD 200 mn acquisition: UK private equity firm Development Partners International (DPI) and pharma manufacturer Adwia have reached an agreement that will see DPI buying 100% of Adwia for USD 200 mn, Adwia Chairman Hossam Taher told the local press. Adwia is currently 90% owned by the Taher family, with the remaining 10% held by several healthcare professionals. The acquisition is expected to close within three weeks. Negotiations had broken down last month after the two sides failed to agree on a valuation. Adwia rejected DPI’s proposed USD 150 mn valuation as being too low in light of the pharma industry’s recent pandemic-fueled growth.
Advisors: Zaki Hashem & Partners is acting as legal counsel to Adwia, while Matouk Bassiouny & Hennawy is advising DPI on the transaction.