HC says has run $116.6 mln acquisition deals since early 2016

Egypt’s investment bank, HC Securities and Investment has managed acquisitions totalling 1.035 billion Egyptian pounds ($116.6 million) since the beginning of 2016, said Head of Investment Banking, Mahmoud Selim on Wednesday.

During the first half of 2016, HC succeeded in completion two acquisition deals, Selim added.

In March, HC completed the fast growing multinational pharmaceutical group Hikma Pharmaceuticals’ acquisition of 98.09% of the share capital of EIMC United Pharmaceuticals (EUP), a pharmaceutical manufacturing company specialising in oncology products, for 300 million Pounds.

Late January, HC had also finalised Middle East Glass Manufacturing Company’s (MEG) acquisition of 100% of the share capital of Misr Glass Manufacturing, a company specialized in the manufacturing and marketing of container glass for the food and beverage industry inside and outside Egypt. The transaction value was 735 million pounds.