December 13 (SeeNews) - Drug maker Zentiva Romania [BSE:SCD] said on Thursday that the the Financial Supervision Authority has approved the Czech Republic-based Zentiva Group's buyout offer for a 6.73% stake in the company at a price of 3.7472 lei ($0.92/0.81 euro) per share.
Zentiva Group's offer targets 28,046,382 shares in Zentiva Romania, the Bucharest-based company said in a bourse filing.
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The bid will run from December 18 to January 11.
The buyout offer will be serviced by BRD Groupe Societe Generale.
As at 13:00 CET on Thursday, Zentiva Romania shares traded flat at 3.70 lei on the Bucharest Stock Exchange.
In October, Sanofi finalised the sale of its European generics business Zentiva, including operations in Romania, to global private equity fund Advent International.
(1 euro = 4.6511 lei)