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Capital, Concord, TRG exit Amoun to Valeant in $800mln deal

Three private equity firms are exiting Egypt’s largest domestic drugmaker following Valeant Pharmceutical’s definitive agreement to acquire Amoun Pharmaceuticals for $800 million last week.  In 2007, Capital Group, Concord International and Citigroup Venture Capital International (which was sold to The Rohatyn Group in 2013) acquired 98% of Amoun for $500 million in one of the largest private equity transactions executed in Egypt at the time.

The acquisition provides Valeant with a platform to expand its presence in the broader Middle East and North Africa regions. The company, which was founded in 1998, is expected to deliver approximately $223 million in revenue this year, and enjoy annual growth rates of 20%.  Amoun operates one of the largest, most up-to-date pharmaceutical manufacturing facilities in the region, as well as owning several market-leading brands in therapeutic areas such as anti-hypertensives, broad spectrum antibiotics and anti-diarrheals.

The deal, which is subject to customary closing conditions, is expected to close in the third quarter.

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