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Sep 11, 2007 11:44 EEST
September 11 (SeeNews) - Serbia’s Privatisation Agency on Tuesday said it sold 68.25% of local pharmaceutical trader Sumadijalek to Greek veterinary drug distributor Alapis which had been ranked first in a sale tender for the Serbian company.
Alapis, previously called Veterin, offered to pay 2.0 million euro ($2.8 million) for the stake and to invest one million euro in Sumadijalek, the Privatisation Agency said in a statement.
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Alapis outbid Serbian companies Habit Pharm and Nelt Co.
Sumadijalek supplies drugs to some 440 private and over 30 state-owned pharmacies and seven big clinics throughout the country. It covers 75% of the drug market in Serbia.
The remaining 31.75% stake in Sumadijalek is so-called socially-owned capital. Socially-owned firms were a corporate ownership concept from the former communist Yugoslavia, under which workers nominally owned their companies.
($ = 0.7251 euro)
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