28 Feb 2021

 

SFE to Invest 10% in ADQ’s (Abu Dhabi Sovereign Wealth Fund) Acquisition of Amoun Pharma

The Sovereign Wealth Fund of Egypt (SFE) is reportedly going to join Abu Dhabi’s sovereign wealth fund ADQ in its bid to acquire 100% of Bausch Health’s unit in Egypt, Amoun Pharma, sources close to the matter reportedly told Hapi Journal. The SFE is reportedly looking to have a 10% stake in Amoun when the transaction is completed. While the fair value assessment has yet to be completed, the sources said that the entire transaction is valued at USD700mn. The two funds are expected to complete due diligence in two weeks’ time, the sources note.

The transaction is likely to be done through a USD20bn investment platform Egypt and Abu Dhabi set up back in 2019 through their sovereign wealth funds. SFE and ADQ were expected to announce a number of new joint investments in 1Q21, Planning Minister Hala El Said had announced last month. (Source: Enterprise)