EBRD, CDC, DPI consortium create USD 250 mn pharma investment platform for Egypt
INVESTMENT WATCH- Alphabet soup of global investors building USD 250 mn pharma investment platform for Egypt: The European Bank for Reconstruction and Development (EBRD) along with the UK’s Commonwealth Development Corporation (CDC) Group and UK-based Africa-focused Development Partners International (DPI) have created a joint investment platform focusing on the pharma industry in Egypt with an initial commitment of USD 250 mn, the EBRD said in a press release. The EBRD will contribute USD 75 mn to the consortium, while the CDC Group will invest USD 100 mn. DPI’s will contribute USD 75 mn.
BACKGROUND: The news comes just days after EBRD and CDC (along with an “unnamed” UK fund that now seems clear was DPI) acquired nearly 100% of Adwia Pharma in a USD 126 mn transaction.