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March 06 2020

Press Release: CIGP Advised on the Sale of a Majority Stake in Alliance Pharma (Cambodge) to Zuellig Pharma

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Hong Kong, 6 March 2020

CIGP advised the shareholders of Alliance Pharma (Cambodge), a leading healthcare and consumer health products distributor in Cambodia, on the sale of a majority stake to Zuellig Pharma, a leading healthcare services provider in Asia, headquartered in Singapore.

CIGP is pleased to have acted as the exclusive financial advisor to the shareholders of Alliance Pharma (Cambodge) on the sale of a majority stake to Zuellig Pharma.

Alliance Pharma (Cambodge) has been providing international healthcare companies with a full range of services designed to facilitate access to the Cambodian market since 2001. Over the years, Alliance Pharma (Cambodge) has developed a full-scale WHO-GSDP certified distribution infrastructure for vaccines, cold-chain products as well as pharmaceutical products, operated by approximately 400 experts in distribution and sales & marketing.

CIGP advised the two main shareholders of Alliance Pharma (Cambodge), Madame Chhay Nay and Mr. Denis Florin on the disposal of a majority stake in their company, leveraging CIGP’s relevant experience in the healthcare sector as well as its presence in both Europe and Asia.

"I am thrilled for the future of Alliance Pharma (Cambodge) under Zuellig Pharma's leadership", said Madame Chhay Nay, Honorary Chairman, former General Manager and controlling shareholder of Alliance Pharma (Cambodge). "Selling the company that took us nearly 20 years to build was not an easy decision. We were not familiar with the peculiarities of a sale process, but under CIGP’s professional and reassuring guidance, we achieved our exit strategy in the best interests of all stakeholders of Alliance Pharma (Cambodge)".

"Selling a company in a challenging jurisdiction such as Cambodia can be a long and tedious process", commented Mr. Denis Florin, former Deputy General Manager and significant shareholder of Alliance Pharma (Cambodge). "CIGP's professionalism, experience in emerging markets and familiarity when dealing with large international players such as Zuellig Pharma was essential in achieving such outcome. We particularly appreciated the hands-on approach of Mr. Valentin Ischer of CIGP, whose frequent interactions with all parties involved played a key role in this landmark transaction".

“We are excited to grow our presence in Cambodia. This acquisition will give Zuellig Pharma a market-leading position in Cambodia, strengthen our presence in Indochina and offer a great platform for accelerated growth in Cambodia and in the region for Zuellig Pharma and its clients”, said Yves Hermes, Area Director for Southeast Asia for Zuellig Pharma.

“Our vision is to further enhance access to healthcare for Cambodian people with our combined reach and capabilities in Cambodia. We will keep investing in innovative solutions for the benefit of the patients in Cambodia”, added Frederik Meerhoff, Country Manager for Zuellig Pharma group of companies in Cambodia.

Luciano Tattoni, CIGP’s Managing Partner, mentioned “We are extremely proud to have helped our clients achieve their exit strategy and primary objective, namely ensuring the optimal transition for Alliance Pharma (Cambodge), its clients and employees, while maximizing the transaction value. Our team’s ability to bridge the gap between a local Asian-based family business and a global institutional conglomerate was a key element to ensure the success of this landmark cross-border transaction”.

About Alliance Pharma (Cambodge)

Alliance Pharma (Cambodge) has been providing international healthcare companies with a full range of services designed to facilitate access to the Cambodian market since 2001. Over the years, Alliance Pharma (Cambodge) has developed a full-scale WHO-GSDP certified distribution infrastructure for vaccines, cold-chain products as well as pharmaceutical products, operated by approximately 400 experts in distribution and sales & marketing.

About Zuellig Pharma

Zuellig Pharma is one of the largest healthcare services groups in Asia with the purpose of making healthcare more accessible, by providing world-class distribution, digital and commercial services to support the growing healthcare needs in this region. The company was started almost a hundred years ago and has grown to become a US$13 billion business covering 13 markets with over 10,000 employees. Its people serve over 350,000 medical facilities and work with over 1,000 clients, including the top 20 pharmaceutical companies in the world.

About CIGP

CIGP Group is an independent financial advisory firm, rooted in Geneva for more than 50 years, providing investment banking services and wealth & asset management to its Clientele. CIGP Group focuses on advising entrepreneurs and their families on strategic matters and currently manages assets c. US$2 billion, invested across asset classes globally. Over the past decade, CIGP has expanded internationally to Milan, Dubai, Hong Kong and London.

For further information, please address your queries to advisory@cigp.com. For more information about our capabilities and a selection of our Case Studies, click here.