AfricInvest Exits Polymedic to NBK Capital Partners
Posted On: 06 Jan 2020 | Source(s): AfricInvest
Pan-African private equity fund manager AfricInvest has exited its stake in Polymedic, a Morocco-based pharmaceuticals manufacturer, to Middle East and North Africa-focused alternative investment firm NBK Capital Partners. Polymedic produces generic medications across 12 therapeutic areas of treatment. NBK will now hold a majority stake in the company alongside Foursan Capital Partners, a private equity firm based in Jordan. AfricInvest originally acquired a 49 percent stake in Polymedic for EUR10.5 million (approximately USD14 million) in December 2012. Financial details of the most recent transaction were not disclosed.