SOFIA (Bulgaria), August 4 (SeeNews) – Bulgarian drug distributor Sopharma Trading [BUL:SO5] said on Friday it has completed the acquisition of a 70% stake in Serbian drug wholesaler Lekovit for an undisclosed sum.
Dragan Petrovic, who was the owner of Lekovit prior to the transaction, will keep a 30% stake in the company and will continue to act as its CEO, Sopharma Trading said in a bourse filing.
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Last month, Sopharma Trading [BUL:SO5] said it received approval for the acquisition from Serbia’s competition authority.
In March, Sopharma Trading said it would seek its shareholders' approval to take out two loans worth a total of 40 million levs ($24.1 million/20.45 million euro) to finance acquisitions in Bulgaria and Serbia.
Sopharma Trading is a unit of Bulgarian drug maker Sopharma [BUL:3JR].
Sabac-based Lekovit is active in the supply of pharmacies and other healthcare institutions with pharmaceutical products. The company has around a hundred employees and works with some 900 pharmacies across Serbia, data from the Lekovit website shows.
Sopharma Trading shares closed 0.24% lower at 8.2 levs in a trading volume of 5,297 units on Friday.
(1 euro = 1.95583 levs)