The Dubai-based Shalina Healthcare group will invest US$16.2 million in Angola in the acquisition of Angolan company Africa Pharmacy, under a contract signed with the Technical Unit for Private Investment (UTIP), the Angolan press reported.
The investment agreement provides for the acquisition of 99% of the share capital of Africa Pharmacy by Shalina Healthcare and 1% by Afinco, while estimating cumulative capital gains of US$147.5 million by 2024.
The group plans to open a drug factory and a new distribution centre in Luanda “in the not too distant future,” the director general of Africa Pharmacy, João de Barros, told trade publication Jornal da Saúde.
The Shalina Healthcare Group is a market leader in the production and distribution of affordable pharmaceuticals and medicines in the African market, where it has been operating for over 30 years and is present in nine countries, Nigeria, the Central African Republic, Kenya, Cameroon, Gabon, Congo Brazzaville, Democratic Republic of the Congo, Zambia and Angola. (macauhub)