Back to the complete issue
Sunday, 18 October 2020

ADQ Holding could buy Amoun Pharma for USD 700 mn

M&A WATCH- The Emirates’ ADQ Holding could buy Amoun Pharma for USD 700 mn: Abu Dhabi’s sovereign wealth fund ADQ is eyeing Bausch Health’s unit in Egypt, Amoun Pharma, ahead of a potential acquisition with a price tag that could be north of USD 700 mn, Bloomberg reports, citing people familiar with the matter. The two parties have not yet worked out the details of the transaction, and Amoun is also on the market for other buyers, the sources said. Bausch — back when it was called Valeant — acquired Amoun in 2015 for USD 800 mn in addition to contingency payments. Amoun was said at the time to be Egypt’s largest local pharma producer and produces a range of human and veterinary medicines including antibiotics, analgesics and antihistamines.

The USD 136 bn fund has been on an acquisition spree in the past few months: It bought a 22% stake in the Middle East’s largest courier Aramex, took a USD 2.1 bn indirect stake in Abu Dhabi National Oil Co’s gas pipelines alongside the Abu Dhabi Pension Fund, and is in talks to grab a slice of agricultural trader Louis Dreyfus. In Egypt, sources told Al Mal last week that the fund has submitted an offer to buy a majority stake in Atyab, the frozen meats and poultry company, for EGP 3–3.2 bn; EFG Hermes is reportedly acting as financial advisor for the transaction.

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. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of Commercial International Bank (tax ID: 204-891-949), the largest private-sector bank 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; and Act Financial (tax ID: 493-924-612), the leading activist investor in Egypt; and Abu Auf (tax ID: 584-628-846), the leading health foodmaker in Egypt and the region.