Saudi Tamer close to acquire 30% stake in Egypt’s UCP

Amr Dalsh

The US-based AmerisourceBergen, which owns 50% of UCP, has already agreed with Tamer to sell a 30% stake in the Egyptian firm

Staff Writer, Arab Finance

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Saudi Tamer Healthcare company is a step away from acquiring up to a 30% stake in the Egyptian United Company of Pharmacists (UCP) for up to $35 million, two sources familiar with the matter told Asharq Business.

The US-based AmerisourceBergen, which owns 50% of UCP, has already agreed with Tamer to sell a 30% stake in the Egyptian firm, one source said.

The other source noted that the deal could be concluded before the end of the current year.

J.P. Morgan acts as the deal’s financial advisor for the American company.

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