January 6 (SeeNews) - Slovenian pharmaceutical products wholesaler Salus [LJE:SALR] said it has signed an agreement for the acquisition of the entire capital of local sector player Farmadent for 8.46 million euro ($8.9 million).
The contract is subject to certain suspensive conditions, including approvals from competition authorities, the consent of municipal councils and the Salus shareholders meeting, the buyer said in a filing with the Ljubljana Stock Exchange on Thursday.
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Salus will acquire the capital of Farmadent from the Slovenian municipalities of Starse, Maribor, Duplek, Hoce-Slivnica, Miklavz na Dravskem Polju and Race-Fram, the pharmaceutical products wholesaler said.
With the acquisition of Farmadent, Salus aims to strengthen its role as one of the vital links in the supply of products and services in the field of healthcare in the markets of Southeastern Europe (SEE), it added.
Salus submitted a binding bid for the purchase of a 75% stake in Farmadent on September 24 and set October 19 as a deadline for the validity of its offer but later postponed it to November 3, November 18, December 15 and then to January 5. The bid included an option for the purchase of the remaining 25% stake in Farmadent, or alternatively the company's entire capital.
($ = 0.95043 euro)