Marei Binmahfouz acquires 25% stake in DBK Pharma, Egypt
The Saudi-based Marei Binmahfouz Group acquired 25% stake in DBK Pharma, an Egyptian company working in the pharmaceutical industry and listed on the Egyptian Exchange since January 2017, in a deal costing EGP38.7mln.
” The take-over deal debuts the Saudi closed joint stock company’s investments that are planned to be injected into Egypt’s pharmaceutical industry as well as in a plethora of Gulf States countries,” said Zahara El-Madani, founder of Al-Madani Engineering Consultation Office which is the consultant of the deal which has been executed at EGP1 per share for 38.7 million shares.
Back in 2016 and 2017, DBK Pharma attempted in vain to offer its shares on the Egyptian Exchange (EGX).
” With the aim of financing its own expansion plan, DBK Pharma preferred selling its shares to offering them on EGX,” said the founder of El-Madani Office.
On the same vein, DKB Pharma, with EGP149.1mln capital, entered direct negotiations with a foreign pharmaceutical company to sell a 20% stake, according to informed sources. Source: Arab Finance