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Dubai's Abraaj invests in Uganda's Vine Pharmaceuticals  Join our daily free Newsletter

MENAFN - 31/01/2013

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(MENAFN) Dubai-based private equity firm Abraaj has invested in Uganda-based pharmacy retail chain Vine Pharmaceuticals through its Africa health fund, Reuters reported.

Shakir Merali, a Nairobi-based partner at Abraaj said the group is looking for more investment opportunities in Africa's healthcare industry.

Vine Pharmaceuticals was founded in 1999 and operates 21 stores in Uganda and a pharmaceutical import business, Abraaj said in a statement.

The Africa health fund was set up in 2009, and was initially launched by emerging market fund manager Aureos Capital.

Abraaj bought Aureos Capital in 2012 in order to expand the geography of its small and medium-sized businesses in Africa, Asia and Latin America.

Abraaj, which manages around USD7.5 billion in assets, owns stakes in firms such as Egypt's Orascom Construction, budget carrier Air Arabia and supermarket chain Spinneys.

 






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