EAEF Announces an Investment in Orchidia Pharmaceutical Industries
The Egyptian-American Enterprise Fund (“EAEF”) announced today that it has entered into binding agreements to acquire a significant minority stake in Orchidia Pharmaceutical Industries (the “Company” or “Orchidia”), the leading Egyptian ophthalmic generic medicine manufacturer and one of the fastest growing pharmaceutical companies in Egypt. The transaction is being executed through EAEF’s investment manager Lorax Capital Partners (“LCP”). The transaction consists of a capital increase that will be subscribed to by EAEF and Dr. Ossama Abbass, the founder, majority shareholder and Chairman of the Company, in addition to acquiring the stake owned by SPE Capital, formerly Swicorp Private Equity as well as a stake owned by other minority shareholders. The proceeds of the capital increase will be used to enhance the capital base of the Company and finance its expansion plans.