66 % Globalpharma equity stake valued at Dh385m

Abu Dhabi: Dubai Investments Co issued a statement on Sunday on the transaction related to divestment of Globalpharma, saying that the enterprise value of the 66 per cent Globalpharma equity stake amounted to Dh385 million.

The balance 34 per cent will be fair valued, and the total expected profit from the divestment transaction along with the fair valuation gain on the retained 34 per cent is expected to be around Dh450 million.

The profit on the transaction will be recognised in Q2 2014.