Abraaj and Proparco reduce stake in pharma business Unimed

Date

12/25/2015 1:25:01 PM

(MENAFN- The Peninsula)

DUBAI: Emerging markets-focused investorAbraaj and a partner have sold 83 percent of their stake inTunisia's second-largest pharmaceuticals company Unimed ahead ofa planned stock market listing next year the private equityfirm said on Tuesday.

Abraaj and French development agency Proparco have sold partof their holdings to a consortium of investors includingWashington-based SQM Blakeney Asset Management and the

Tunisian-Kuwaiti Consortium of Development.

Neither the price nor the size of the retained stake weredisclosed by Abraaj but the firm's statement said the partialexit is a step towards the listing of Unimed on the Tunis stockexchange in the first half of 2016.

Unimed specialises in sterile dosage forms such asintravenous solutions and opthalmic products for globalcompanies including Pfizer and Mylan.

Reuters

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