SPIMACO to help fund Egyptian subsidiary, Mevo’s investment, in new medicine production lines
Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) [2070.SE] is currently in negotiations with recently-acquired Egyptian company Mevo International Corp. for Pharmaceutical Industries to establish new production lines for liquid pharmaceutical drugs and ampoules. In May 2015, SPIMACO bought a controlling (51%) stake in the company in Mevo. However, the investment amount is yet to be determined by both companies. (Al Mal) SPIMACO: SAR27.68 as of 13 January 2016, Rating: Buy, FV: SAR45.00 per share, MCap: USD886 million, SPIMACO AB / 2070.SE
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