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CORRECTED - Bulgaria’s Sopharma to absorb Bulgarian Rose-Sevtopolis

Oct 30, 2012, 3:51:24 PMArticle by Tsvetomira Tsanova
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October 30 (SeeNews) - Bulgarian drug maker Sopharma [BUL:3JR] said on Tuesday it has signed a contract to acquire local peer Bulgarian Rose-Sevtopolis [BUL:4BJ].

CORRECTED - Bulgaria’s Sopharma to absorb Bulgarian Rose-Sevtopolis

The contract, which envisages the merger of Bulgarian Rose-Sevtopolis into the structure of Sopharma, was signed on October 29 and was filed with the country’s financial regulator, Sopharma said in a statement on the Sofia bourse.

Bulgarian Rose-Sevtopolis, previously 49.99%-owned by blue-chip Sopharma, produces substances used in drugs which Sopharma exports mainly to Ukraine and Russia.

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