SOFIA (Bulgaria), September 14 (SeeNews) – Bulgarian drug maker Sopharma [BUL:3JR] said on Thursday it has signed an agreement to absorb its majority owned subsidiary Unipharm [BUL:59X].
Under the deal, Unipharm shares will be converted into Sopharma shares at a ratio of 1:891512, Sopharma said in a bourse filing.
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The agreement has not yet been submitted for approval to the country’s financial regulator, Sopharma added.
On Monday, Sopharma said it has acquired a further 111,066 Unipharm shares from minority shareholders who used their right to ask Sopharma to buy their stakes following Sopharma’s buyout bid in June. Sopharma increased its stake in Unipharm to 96.63%, from 77.88%, in a transaction priced at 4.35 levs ($2.65/2.22 euro) per share In June.
(1 euro=1.95583 levs)