* Citi, Capital Group, Concord poised to hire Goldman
* Trio bought generic drugmaker in 2006 for about $450 mln
(Adds context on Biofarma, likely bidders, market forecast,
By Quentin Webb
LONDON, Oct 20 Citigroup Inc's (C.N) venture
capital arm and two other investors are planning to sell Amoun,
one of Egypt's biggest drugmakers, three people familiar with
the matter said on Wednesday.
The owners -- Citi Venture Capital International (CVCI),
together with the emerging-markets focused private equity arm
of the Capital Group Cos Inc, and Concord International
Investments -- are close to hiring Goldman Sachs (GS.N) to run
the sale, the people said.
The trio bought Amoun, which makes off-patent branded
drugs, for about $450 million in 2006. One of the people said
it could now be worth roughly $1 billion.
An Amoun spokeswoman did not immediately respond to an
emailed request for comment outside Egyptian business hours.
Citigroup and Concord had no immediate comment. A spokeswoman
for Capital Group said it did not comment on its investments.
Goldman declined to comment.
News of a potential sale comes days after people familiar
with the matter said another CVCI-led consortium was seeking to
sell a second generic drugmaker, Turkey's Biofarma. That could
also be worth nearly $1 billion. [ID:nLDE69B0PP]
Major pharmaceutical companies, seeking to avert a steep
drop-off in revenues as blockbuster drugs lose patents, are
keen to expand in both copycat drugs and in faster-growing
Major players such as Abbott Laboratories (ABT.N) and
Pfizer Inc (PFE.N) of the United States, France's
Sanofi-Aventis SA (SASY.PA), and Sandoz, the generics unit of
Novartis NOVN.VX, could consider bids for Amoun.
A report in May by Business Monitor International forecast
pharmaceutical spending in Egypt would grow 11.4 percent a year
between 2009 and 2014, to hit $4.2 billion, and would rise at
9.2 percent annually for the rest of the decade.
(Reporting by Quentin Webb; Editing by Elaine Hardcastle and