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Abu Dhabi’s state-owned ADQ has signed a definitive agreement to acquire Amoun Pharmaceutical Co., an Egyptian manufacturer, distributor and exporter of branded pharmaceutical and animal health products, from Bausch Health Companies Inc.
The transaction will be completed through a mandatory tender offer (MTO) by ADQ for the total issued share capital of Amoun, including the less than 1 per cent held by minority shareholders, the UAE-based holding company said in a statement Wednesday.
It will be subject to customary closing conditions, including regulatory approvals.
The investment in Amoun is expected to further strengthen ADQ’s long-term healthcare and pharma strategy to deliver a fully integrated value chain in the UAE.
Amoun has more than 2,500 employees and owns one of the largest pharma plants in Egypt.
Abu Dhabi Health Services Company (SEHA) is part of ADQ and is leading healthcare services across the UAE through integrated healthcare solutions provider Pure Health’s portfolio of hospital management, laboratory services and medical supplies.
ADQ’s recent acquisition of Pharmax locally and its investment in Biocon Biologics, India’s largest biopharmaceutical company, will enable access to a wider range of generics and biosimilars, boosting local production capabilities and optimizing pharmaceutical expenditure.
ADQ owns Abu Dhabi Ports, Abu Dhabi Airport and bourse operator ADX. It has also built up a portfolio of food and agriculture businesses, and intends to acquire a 45 percent stake in commodities trader Louis Dreyfus Co.
(Writing by Brinda Darasha; editing by Seban Scaria)
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