#AbuDhabi Wealth Fund ADQ Said to Pursue Bausch’s Egypt Unit - Bloomberg

Abu Dhabi Wealth Fund ADQ Said to Pursue Bausch’s Egypt Unit - Bloomberg:

Abu Dhabi sovereign wealth fund ADQ is exploring a potential acquisition of Bausch Health Cos.’s Egyptian drug unit, people with knowledge of the matter said.

ADQ has been evaluating the Bausch business, known as Amoun Pharmaceutical Co., as it seeks to expand its portfolio of health-care investments, according to the people. Amoun could fetch at least $700 million in a sale, the people said, asking not to be identified because the information is private.

No final agreements have been reached, and there’s no certainty the deliberations will lead to a transaction, the people said. Amoun could also attract other suitors, according to the people. Representatives for ADQ and Amoun couldn’t immediately comment. A spokesperson for Bausch declined to comment.

Bausch, formerly known as Valeant Pharmaceuticals International Inc., has been reshaping its operations since becoming infamous on Wall Street for raising drug prices. One activist investor, Glenview Capital, has been pushing Bausch to sell or spin off more businesses. The company said in August it would separate its eye-care unit into an independent publicly-traded company.