El Ezaby Pharmacy will acquire 51% of EZ Pharma, a pharmaceuticals trading company established by the Sovereign Fund of Egypt (TSFE) and B Investments.
Sources said that TSFE and B Investments will pump EGP 500m investments in the new company over next two years, provided that El Ezaby Pharmacy will transfer its branches to the new company.
El Ezaby Pharmacy contributes to the new company with its existing pharmacies and technical expertise in this field. The TSFE and B Investments aim to pump a capital increase in the company during the next two years to provide services to more than 500 pharmacies in the main governorates, starting from the chain of branches of existing El-Ezaby pharmacies, which exceeds 250 pharmacies.
