Business


Abraaj mulls bid for Amoun Pharma



Cairo: Abraaj Group, the emerging market- focused buyout firm, is considering a bid for Amoun Pharmaceutical, one of the largest drugmakers in Egypt, according to three people with knowledge of the matter.

Abraaj has held initial talks with Amoun ahead of a potential bid, which may value the business at $700 million to $800 million, the people said, asking not to be identified as the information is private.

Talks are at an early stage and the sale is also attracting interest from other private equity firms, the people said, without giving names.

The drugmaker's shareholders hired Jefferies Group to explore a potential sale.

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