U.S.-based Abbott is buying Russian company Veropharm for RUB 13.6-17 billion, according to Abbott's press release.
Abbot will acquire Veropharm shares from GardenHills LLC which currently owns 80% of the company's shares. In June, GardenHills made an offer to Veropharm's minority shareholders.
The final transaction value will depend on the size of the stake GardenHills will be able to consolidate.
According to the American company's statement, Garden Hills intends to increase its stake in Veropharm to more than 95%.
The transaction is expected to be finalized in the fourth quarter of this year.
OAO Veropharm (tax number: 7725081786) is a Russian pharmaceutical company with production facilities located in Belgorod, Voronezh, and Pokrov. Veropharm's authorized capital is RUB 10 million. The company's product range contains over 300 medicinal products.
IFRS net profit of Veropharm for 9 months 2013 dropped twice to RUB 465.4 million. Net profit margin was 13%, GP reached RUB 2.222 billion, GP margin 62.1%, EBITDA was RUB 951.3 million, EBITDA margin 26.6%.
AK&M "M&A Market"
"AK&M", 24.06.2014 10:12