Dubai Investments has acquired an additional 66 per cent stake in Globalpharma.
Dubai Investments divested a 66 per cent stake in 2014 and had continued to hold a minority 34 per cent equity, according to local newswire, WAM.
In a statement, Dubai Investments stated that following the acquisition, the pharmaceuticals company will now be a wholly owned subsidiary of Dubai Investments.
Khalid bin Kalban, the CEO of Dubai Investments, said, “Our healthcare portfolio includes different stakes in KCH Healthcare, Clemenceau Medical Centre, tie-ups with hospital operators such as NMC in Dubai Investments Park and Mirdif Hills.”
Globalpharma manufactures and markets pharmaceutical products in more than 14 countries across the GCC, the Middle East and neighbouring markets.