Sovereign Fund of Egypt to acquire 20% of B Healthcare
The Sovereign Fund of Egypt (TSFE) will acquire about 20% of B Healthcare Investments, owned by B Investments, after pumping EGP 100m, according to the agreement signed between the two sides last week, governmental sources told Daily News Egypt.
The TSFE, through its sub-fund for health services and pharmaceutical industries, signed two partnership agreements with B Investments to invest more than EGP 2bn in the field of specialized healthcare services, and pharmaceutical distribution and trade services in Egypt.
The first agreement stipulates that the Sovereign Fund of Egypt is committed to investing EGP 100m in B Healthcare.
The sources added that the Sovereign Fund of Egypt will work to attract funds and institutions to invest in B Healthcare during the coming period, and negotiations are underway with Gulf and regional institutions at the present time.
They explained that the fund will pump EGP 100m over periods, according to the investment opportunities for which B Healthcare competes.
The company is currently studying two new opportunities after completing its acquisition of the Egyptian Center for IVF, and aims to close one of them operating in the reproductive health sector also during the first half of 2023.