CIB exits investment in Egypt Otsuka Pharmaceuticals, selling stake to Otsuka Group – Dailynewsegypt
Commercial International Bank-Egypt (CIB), Egypt’s leading private-sector bank, has announced the successful completion of its planned exit from Egypt Otsuka Pharmaceuticals (EOP), a leading player in the pharmaceutical industry and a member of the Otsuka Group.
The divestment, which saw CIB sell its equity stake to the Otsuka Group, aligns with the bank’s investment strategy of maximising returns for shareholders while supporting the strategic and operational goals of its investee companies.
Since its initial investment in EOP in 2019, CIB has provided financial expertise and strategic guidance through active board involvement, enabling the company to achieve significant milestones and notable business growth in Egypt and the region.
“We at CIB regard our equity participation in EOP as an unprecedented investment,” said Ashraf Shash, Head of Direct Investment at CIB. “Not only has it yielded rewarding financial returns for the bank, but it has also delivered exceptional pharmaceutical products to the Egyptian market.”
EOP, which is the market leader in the intravenous solutions market in Egypt, is known for its superior products, advanced production processes, and facilities. The company has benefited from the support of the Otsuka Group, which has enabled EOP to remain at the forefront of the industry.
“This acquisition is part of the Otsuka Group’s investment plan in Egypt,” stated Ahmed Zaghloul, EOP’s Chief Executive Officer. “The Group aims to consolidate its operations in the MENA region, especially in Egypt, catering for the rising demand for the Group’s products in the region.”
Zaghloul added that EOP’s management team has been a key driver of the Otsuka Group’s expansion in the Egyptian market and neighbouring countries.
The successful exit from EOP underscores CIB’s commitment to strategic investments, generating significant value for shareholders and supporting the growth and development of leading industries in Egypt.
Zaki Hashem & Partners acted as legal advisors for CIB in the transaction, while Matouk Bassiouny & Hennawy represented the Otsuka Group.