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Tue 22 Dec 2015 02:13 PM

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Dubai's Abraaj reduces stake in pharma business Unimed

Private equity firm and its partner say they have sold 83% of their interest in Tunisian pharma firm

Dubai's Abraaj reduces stake in pharma business Unimed
Pills, healthcare, pharmaceuticals generic

Emerging markets-focused investor Abraaj and a partner have sold 83 percent of their stake in Tunisia's second-largest pharmaceuticals company Unimed ahead of a planned stock market listing next year, the private equity firm said on Tuesday.

Dubai-based Abraaj and French development agency Proparco have sold part of their holdings to a consortium of investors including Washington-based SQM, Blakeney Asset Management and the Tunisian-Kuwaiti Consortium of Development.

Neither the price nor the size of the retained stake were disclosed by Abraaj, but the firm's statement said the partial exit is a step towards the listing of Unimed on the Tunis stock exchange in the first half of 2016.

Unimed specialises in sterile dosage forms, such as intravenous solutions, and opthalmic products for global companies including Pfizer and Mylan.

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