Sopharma Trading to acquire the Serbian distributor Lekovit (POSITIVE)

Sopharma Trading has announced its intention to acquire a majority stake in the Serbian pharmaceutical wholesaler Lekovit. The current shareholder in Lekovit, Dr. Dragan Petrovic will keep a minority stake and will continue contributing to the further development of the company on the CEO position. “Lekovit company is recognized as one of the most reliable pharmaceutical wholesalers in Serbia that has enlarged significantly its customer base, revenue and profit in the last 3 years’ period. The dynamic growth of Lekovit is an outcome of the strategy for customer diversification, full utilization of market potential, more efficient partnerships with suppliers and improved profitability.” Sopharma Trading announced. The size of the transaction was not disclosed. Recall that in the end of April, Sopharma Trading shareholders authorized the Board of Directors to take a 81-month EUR 12m investment loan from Raiffeisen Bank at an interest rate of 1M Euribor + 1.70% (minimum 1.70%) for acquisition of stake in a Serbian pharmaceutical distributor. The deal is subject to approval by the Serbian Commission for Protection of Competition.