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Dec 02, 2009 19:03 EEST
SOFIA (Bulgaria), December 2 (SeeNews) – Bulgarian blue-chip drug maker Sopharma said it has become a 51% shareholder in Latvian pharmaceutical company Briz after it emerged the deal needed no anti-trust clearance in the home country of the acquisition target.
The Latvian anti-trust regulator decided on November 10 the transaction required no anti-trust scrutiny, Sopharma said in a statement to the Bulgarian Stock Exchange on Tuesday.
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The financial parameters of the deal, subject to shareholder approval, were not immediately available.
Briz (www.briz.lv), set up in 1991, operates as a drug and medical goods distributor in Latvia, Lithuania, Estonia, Belarus and Russia; it offers registration services for medicaments, biologically active additives, perfumery and cosmetics in Latvia, Lithuania, Estonia, Belarus, Poland and Bulgaria, and logistics services in Latvia, Lithuania, Estonia and Belarus.
Sopharma (www.sopharma.bg) exports to 28 countries with Russia and other former Soviet republics as its main markets abroad. The company has said it will aim to expand its presence in Russia, Ukraine and Poland, and to enter the U.S. market as well as markets in the Caucasus and in central and eastern Europe.
Sopharma closed 0.737% higher at 4.1 levs in a volume of 37,466 stocks on the Sofia bourse on Wednesday.
(1 euro = 1.95583 Bulgarian levs)
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