January 21, 2016
54 Capital, a London-based private-equity company, plans to build a new plant for Addis Pharmaceutical Factory within two years after investing $30 million in its seventh deal in Ethiopia, an executive said.
The asset manager will also “quickly” increase the number of drugs produced in Adigrat in the northern Tigray region to 150 from 90, Chief Investment Officer Saad Aouad said in an interview. 54 Capital bought a 40.7 percent stake in APF last month and has an option to invest a further $12 million to acquire 49 percent of the company, which is co-owned by a conglomerate with ties to Ethiopia’s ruling coalition.
