BUCHAREST (Romania), November 13 (SeeNews) – The asset management fund of French banking group Societe Generale has acquired 30% of Romanian medical services provider MedLife for 20 million euro ($29.8 million), Bucharest-based daily Ziarul Financiar reported on Friday.
The sellers of the stake were the founder of the company, the Marcu family, and the International Finance Corporation, the World Bank's private sector lending arm, the daily quoted unnamed market sources as saying.
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The transaction is pending approval by the Romanian anti-trust regulator, Ziarul Financiar (www.zf.ro) said.
It added that MedLife officials confirmed the transaction has taken place but declined to disclose the name of the buyer, while officials at Societe Generale Asset Management declined comment.
MedLife (www.medlife.ro) opened its first outpatient clinic in 1996 in Bucharest. The company operates four clinics, five laboratories and 28 medical centres. MedLife had a 11 million lei ($3.8 million/2.6 million euro) operating profit and 53 million lei turnover in the first six months this year, the daily said.
Societe Generale Asset Management had 273 billion euro of assets under management at the end of September this year.
(1 euro=4.2993 Romanian lei)