SOFIA (Bulgaria), August 9 (SeeNews) – Bulgarian drug producer Sopharma [BUL:3JR] said on Wednesday it has completed the merger of local peer Medica [BUL:5MA] into the company.
The transaction has been entered into the country’s commercial register, Sopharma said in a bourse filing.
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Under the agreement signed between the two companies, Medica shares will be converted into shares in Sopharma at a ratio 1 : 0.8831, Sopharma said previously.
In June, shareholders of Medica and Sopharma [BUL:3JR] approved a proposal to merge Medica into Sopharma.
In April, Sopharma said it had received a regulatory approval to absorb Medica.