On November 29, 2015, Saudi Pharmaceutical Industries & Medical Appliances Corp. (SPIMACO) acquired 51 percent stake in Egypt’s Meivo International for Pharmaceutical Industries.
|Deal Value||Method of Finance||Type||Status|
|19.90 Million USD||Borrowing/Loans , Internal Resources||Acquisition||Completed|
|Saudi Pharmaceutical Indust.& Med. Appliances Corp - Pharmaceutical|
|Argaam Sector||Pharmaceuticals Suppliers|
|*Market Cap (Million SAR)||3,144.00|
|Meivo Int'l for Pharmaceuticals Industries - Meivo|
|*Market Cap (Million SAR)||-|
|Expected date for Completion||29-11-2015|
On May 4, 2015, Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO) submitted an offer to acquire 51 percent of Egypt’s Meivo International Pharmaceutical Industries for SAR 72.4 million, before accounting for the target’s debt position.
* Based in Egypt's coastal city of Alexandria, Meivo International Pharmaceutical Industries was launched in 2012 with a capital of EGP 59 million.