PIF, ADQ weigh purchase of Egyptian drugmaker: report

Saudi Arabia’s Public Investment Fund (PIF) and UAE’s ADQ are weighing the joint purchase of Bausch Health Cos.’s Cairo-based drug unit, Bloomberg reported, citing people familiar with the matter.

Talks are ongoing and there’s no certainty the deliberations will lead to a transaction involving one or both of the funds, the people said.

In addition, the two funds have held talks to work closely on other transactions in areas such as food security, health care and industrials, the report noted.