Ljubljana stock indices rise, NLB leads gainers
Koncar boosts Croatian share indices
Most Romanian stock indices rise further, Digi shines
Bosnia's Serb Republic trade gap widens in Jan
Bosnia's Serb Republic building permits up 40% y/y in Jan
Dec 14, 2009 17:22 EEST
BELGRADE (Serbia), December 14 (SeeNews) – More than 100 million euro ($146 million) in sales revenue and assets exceeding 250 million euro in 2008 are two of the requirements that the potential buyers of Serbia's largest drug maker Galenika must meet, the government's Privatisation Agency said on Monday.
Interested candidates also must have a five-year uninterrupted experience in the pharmaceutical industry, the asset-selling agency said in a statement prior to the official launch of the tender scheduled for Tuesday. Potential bidders can buy tender documents by February 19, 2010.
You can subscribe to our M&A newsletter here
The deadline for submitting indicative bids for the purchase of Galenika will expire on March 19, 2010.
Two weeks ago Economy Minister Mladjan Dinkic said the government would not consider bids lower than 200 million euro for 100% of Galenika.
Serbian drug maker Hemofarm, owned by Germany’s STADA, will take part in the prequalification tender for the sale of Galenika, b92 (www.b92.net) quoted Hemofarm vice president Dragomir Curcic as saying last week.
The privatisation of Galenika will be completed in two stages. The first stage is the prequalification tender, which will enable the government to see who is interested in strategic partnership with the drug maker. The second stage will be a tender with binding bids based on which Serbia will decide whether to sell Galenika. Dinkic also said that the government will postpone sale if it does not receive appropriate bids.
Galenika expects its net profit to rise by around 10% to 7.0 million euro this year, its CEO Nenad Ognjenovic told SeeNews earlier. The company's main domestic competitors include Sumadijalek, owned by Greek pharmaceutical company Alapis, and Hemofarm.
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options