Cairo, August 18, CIB, Egypt’s leading private-sector bank, is pleased to announce the completion of its planned exit from EOP, a leading player in the pharmaceutical industry and a member of the Otsuka Group. This divestment aligns with CIB’s investment strategy, which focuses on maximizing returns for its shareholders while fostering the strategic and operational goals of investee companies.
As a local financial investor that provides growth channels and support to the Egyptian economy, CIB has strategically managed its investments to optimize shareholder value. Since its initial investment in EOP in 2019, the bank has provided financial expertise and strategic guidance through active board involvement, enabling the company to achieve significant milestones and notable business growth on the local and regional fronts.
EOP is the market leader in the Intravenous Solutions market in Egypt and is endorsed by the renowned Otsuka Group. The company is known for its superior products, advanced production processes, and facilities. This partnership, alongside Otsuka Group’s continuous guidance and support, has enabled EOP to remain at the industry’s forefront.
Commenting on the transaction, Ashraf Shash, Head of Direct Investment at CIB, said, “We at CIB regard our equity participation in EOP as an unprecedented investment. Not only has it yielded rewarding financial returns for the bank, but it has also delivered exceptional pharmaceutical products to the Egyptian market.”
“This acquisition is part of Otsuka Group’s investment plan in Egypt. The Group aims to consolidate its operations in the MENA region, especially in Egypt, catering for the rising demand for the Group’s products in the region”, stated Ahmed Zaghloul, EOP’s Chief Executive Officer.
Mr. Zaghloul added that EOP’s management team has been always considered as the backbone of Otsuka Group expansion in the Egyptian market and neighboring countries.
The successful exit from EOP underscores CIB’s commitment to strategic investments, generating significant value for shareholders and supporting the growth and development of leading industries in Egypt.
Zaki Hashem & Partners were the legal advisors that represented CIB in this transaction, while Matouk Bassiouny & Hennawy represented Otsuka Group.