This comes less than a week after GSK announced the signing of a non-binding basic terms of agreement with Hikma Pharmaceuticals PLC
GlaxoSmithKline (GSK Egypt) continues to be popular as they receive another request for a potential acquisition, this time by the Arab Company for Pharmaceutical Industries and Medical Appliances, ACDIMA Egypt.
GSK Egypt announced that Glaxo Group Limited, its main shareholder with 91.2 percent, received a letter by ACDIMA, expressing their interest in acquiring Glaxo Group’s stake in GSK Egypt through a statement to the Egyptian Exchange.
This comes less than a week after GSK announced the signing of a non-binding basic terms of agreement with Hikma Pharmaceuticals PLC with the intention of selling Glaxo Group’s shares.
The agreement included a compulsory purchase offer for all shares, involving conclusion of final and binding contracts, and the approval of the regulatory authorities. It also stated that it included other investments in Egypt and Tunisia affiliated with GSK.
GSK Egypt reported a 51.2 percent year-on-year growth in its consolidated net profits at EGP 101.41 million during the first nine months of 2020.
