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Arab Finance: EFG Hermes, an EFG Holding company, has completed its advisory role on a transaction in which Ashmore Investment Saudi Arabia acquired a minority stake in Pharco KSA, the Saudi subsidiary of Pharco Pharmaceuticals, through a primary capital increase, as per an emailed press release.
EFG Hermes acted as the sole financial advisor on the transaction, which marks Ashmore’s inaugural investment through the Ashmore Saudi Industrial Fund.
Saudi Investment Company, the investment arm of the Saudi Industrial Development Fund, participated as an anchor investor.
As part of the mandate, EFG Hermes advised on the full deal structure, including the carve-out process and the consolidation of Pharco Pharmaceuticals’ Saudi operations under Pharco KSA.
Pharco Pharmaceuticals is the largest pharmaceutical manufacturer in the Middle East and North Africa, and the transaction brings Ashmore’s emerging-market capital into a regional pharmaceutical platform with an expanding presence in Saudi Arabia.
The investment is intended to support cross-regional capital flows, technology transfer, and manufacturing localization, while aligning with Saudi Arabia’s Vision 2030 objectives for industrial development and healthcare sector growth.
