Dubai – Mubasher: Dubai Investments announced on Wednesday the payment of $36.3 million (AED 133.2 million) in consideration of an additional stake of 66% in Globalpharma.

The final value of the deal will be disclosed following the completion of the required legal and audit procedures, according to a filing to the Dubai Financial Market (DFM).

Early in February, Dubai Investments purchased an additional stake of 66% in Globalpharma and became – consequently – a whole owner of the pharmaceutical firm.

The DFM-lasted company has held a 34% stake in Globalpharma since 2014.

Dubai Investments posted a 53.53% year-on-year drop in net profits during the full year of 2018, recording AED 651.38 million.