Back to the complete issue
Thursday, 24 September 2020

EBRD, CDC also in the running to acquire Egypt’s Adwia?

M&A WATCH- EBRD, CDC also in the running to acquire Egypt’s Adwia? Pharma manufacturer Adwia is still up for grabs, as the European Bank for Reconstruction and Development (EBRD) and the UK development finance institution CDC have reportedly expressed interest in taking a stake, reports Al Mal. An EBRD representative declined Enterprise’s request for comment, saying the bank does not comment on investments still under discussion.Chairman Hossam taher told the local press yesterday that UK private equity outfit DPI had finalized an agreement to acquire Adwia for USD 200 mn. The two restarted talks and now “see eye-to-eye” on the valuation after Adwia rejected DPI’s original offer to acquire the company for USD 150 mn, he said. Adwia Chairman had said that DPI’s acquisition could be complete within three weeks.

Advisors: Zaki Hashem & Partners is acting as legal counsel to Adwia, while Matouk Bassiouny & Hennawy is advising DPI.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.