Abu Dhabi’s ADQ is set to acquire Turkish pharmaceutical company Birgi Mefar Group (BMG) in a deal that will add to the sovereign wealth fund’s healthcare and life sciences portfolio.
ADQ, the emirate’s third biggest wealth fund after Abu Dhabi Investment Authority (ADIA) and Mubadala, did not divulge any financial details of the transaction.
The Turkish company makes sterile injectables—essentially vials and pre-filled syringes—which are used in administering vaccines. It typically caters to the export market, selling its products across 30 countries including in Europe and Asia.
For ADQ, this is the second pharma acquisition of 2022. Earlier this year, it had acquired Swiss pharma company Acino.
Last year, ADQ bought Phamax, a UAE-based pharmaceutical company and Egypt-based Amoun. The investor also has a minority stake in Indian pharma major Biocon.
Abu Dhabi-based investment company NEMA Holding is fully acquiring the Liwa College of Technology for an undisclosed amount.
The Dubai Financial Market-listed Amanat, which owns a 35% stake in NEMA, said in a filing that NEMA is acquiring a 100% stake in the Abu Dhabi-based college, which has 1,700 students.
NEMA was earlier called Abu Dhabi University Holding Co. Amanat had acquired a 35% stake in NEMA in 2018.
This is the second acquisition by NEMA this year. It had earlier bought the remaining 49% stake in Abu Dhabi-based Khawarizmi International College. It already owned a 51% stake in the institution.
Both the acquisitions were funded by a combination of cash and debt.
Amanat already owns a 100% stake in the Middlesex University Dubai. With the latest acquisitions, its higher education platform now caters to 14000 students.
Abu Dhabi-based AD Ports is set to ink a joint venture with Uzbekistan-based Enter Engineering Group to launch logistics and freight forwarding services in the central Asian region.
The Abu Dhabi stock exchange-listed port and logistics operator said it has signed a head of terms agreement to establish the joint venture, which will include air, sea, land and rail logistics as well as warehousing, contract logistics and customs clearance.
“AD Ports Group will also support Enter Engineering Group’s work on tenders in the UAE, with a particular focus on the energy sector,” the statement said.
The Tashkent, Uzbekistan-based company was founded in 2012. In the last decade, the company has carried out $2.5 billion of construction contracts, as well as engineering, procurement and construction contracts.