Dubai Investments Sells Globalpharma Stake To Sanofi-led Group

Dubai Investments has sold a 66 per cent stake in its Globalpharma unit to an investor group led by France’s Sanofi, the diversified investment group said on Thursday.

No purchase price was given by the bourse filing in Dubai, but Dubai Investments said the deal had generated an internal rate of return of 26 per cent over a ten-year period.

Globalpharma manufactures pharmaceutical products and is registered in more than 14 countries across the Middle East and neighbouring markets, according to the statement.