Morocco's Saham Pharma acquired by SPE Capital Partners and Proparco

Saham Pharma, an antibiotics manufacturer in Morocco, was acquired by SPE Capital Partners and Proparco, Africa Global Funds reports.

Saham Pharma was founded in 2011 after the acquisition of GlaxoSmithKline’s beta-lactams production site in Morocco, the same source added.

«This will be our second investment in Morocco through the fund SPE AIF I and the second in the pharmaceuticals industry, following our investment last year in Future Pharmaceuticals Industry in Egypt», Nabil Triki, Managing Partner and CEO at SPE Capital, said.

«We have had strong growth over the past years and we are happy to have private equity investors of the quality of SPE Capital and Proparco partner with us to support our continued development over the coming years», Younous Elalamy, Managing Director at Saham Pharma, said.

For the record, Saham Pharma is a subsidiary of Saham Assurance, owned by Trade Minister Moulay Hafid Elalamy. South Africa’s Sanlam acquired the insurance pole of the company.