THREE COMPANIES ACQUIRE 48.77% OF SOPHARMA AD
Three Bulgarian companies acquired 48.77% of the capital of Sopharma AD on April 17. The acquisition was fulfilled through block deals and the buyers are Sofia AD (16.24%), Telso AD (16.77%) and Telecomplect AD (15.76%). In its announcement the company informed that Sopharma AD managers intended to follow the announced policy of sustainable growth on the domestic and the foreign market, as well as the related investment plan. Construction of a new storehouse for the ready products and a new tablet unit, doubling the capacity of the ampulla plant and building a substances warehouse are among the priority tasks in 2006. Last week, agreements were signed for delivery of equipment by Bosch and Getinge Fedegari worth EUR3MN.
The pharmaceutical company managers added that another tool for improving the company's positions on the domestic market was the restructuring of the Sopharma group which would help for cutting the costs and improving the management. The managers forecast that after getting permission from the Competition Protection Commission to acquire a controlling stake in Sopharma Trading, the company would become a leader in the wholesale trading in medical devices. The company is expected to achieve a 25% market share by year-end. Sopharma will keep looking for investment opportunities in neighbour countries such as Serbia and Montenegro, Macedonia, Romania and Turkey.
In the end of January, Gramercy Emerging Markets Fund acquired 7.5758% of Sopharma's capital. After the three block deals, the former majority shareholder Elpharma reduced its stake to 27.817% of the capital. Sofia AD, Telecomplect and Telso which controls 14.84% in Bulgarska Roza-Sevtopolis, are major shareholders in Sopharma Estates, a special investment purpose joint-stock company registered in the Central Depository last Monday.