Bulgaria’s Sopharma gets nod to absorb local peer Unipharm

Under the terms of the deal, Unipharm shares will be converted into Sopharma shares at a ratio of 1:891512, Sopharma said in a bourse filing.

The deal is now subject to approval by the shareholders of the two companies.

The agreement for the merger was signed in September.

In June, Sopharma increased its stake in Unipharm to 96.63%, from 77.88%, in a buyout bid priced at 4.35 levs ($2.65/2.22 euro) per share.

(1 euro = 1.95583 levs)