BUCHAREST (Romania), September 24 (SeeNews) – Sanofi Aventis Europe, part of French pharmaceutical group Sanofi Aventis, has raised its stake in Romanian drug maker Zentiva SA to 78.3% from 74.9% following a buyout bid, bourse data showed on Thursday.
Sanofi Aventis Europe acquired the additional 3.4% stake for 9.9 million lei ($3.5 million/2.3 million euro), according to data from the Bucharest Stock Exchange, BVB. It bought some 14 million Zentiva shares at an average price of 0.69 lei per share.
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Sanofi Aventis Europe had offered to pay 73.2 million lei in the buyout bid for 25.09% of the Romanian drug maker that took place between August 12 and September 22 on the BVB.
In the buyout, Sanofi Aventis Europe acted jointly with Zentiva NV and Cyprus-based Venoma Holdings. Sanofi Aventis Europe holds a 99.09% stake in Zentiva NV, which, in turn, owns 100% of Venoma Holdings.
Prior to the buyout, Zentiva NV held a 23.93% stake in the Romanian drug maker, formerly Sicomed, and Venoma Holdings owned 50.98%.
Zentiva SA shares closed unchanged at 0.7 lei on the BVB on Thursday.
(1 euro=4.2162 Romanian lei)