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Spimaco bids for 51% stake in Egypt's Mepho

Spimaco bids for 51% stake in Egypt's Mepho
Spimaco
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Riyadh-Mubasher: Spimaco’s board gave the go-ahead for submitting an offer to purchase a 51% stake in Egypt's Mepho International Industry Co. at a total value of $19.3 million (SAR 72.4 million), before deducting net debts, which will be set on the day of closing the deal.

Mepho, which operates with EGP 59 million capital, started operations in 2012.

The deal is part of Spimaco's strategy of expanding in overseas pharmaceutical markets and benefiting from available opportunities.