Abu Dhabi-Mubasher: The Abraaj Group partially exited a stake in leading Tunisian pharmaceutical company Unité de fabrication de medicaments, according to a statement.
Abraaj and development finance institution Société de Promotion et de Participation pour la Coopération Economique (Proparco) exited 83% of their combined stake to a consortium of investors including SQM, Blakeney Asset Management, the Tunisian-Kuwaiti Consortium of Development (CTKD) and two local investors.
It is worth noting that Abraaj, through one of its funds, invested in Unimed in 2011.
The company has also increasingly adopted an export-focused strategy which resulted in 41.5% of total sales in 2014 being exported to over 17 countries in North Africa, West Africa, Europe and the Middle East.
