Pharmstandard agrees key terms for acquiring Singapore drugmaker
Russia’s largest pharma company Pharmstandard (PHST RU) – with a market capitalization of around $2 billion - has announced key terms of a possible acquisition of 100% share capital of Singapore-based Bever Pharmaceutical, at a lower price than the previously mooted $630 million (The Pharma Letter July 10).
The total consideration for the acquisition of Bever is agreed at $590 million and will be funded by the combination of Pharmstandard’s shares and GDRs owned by Pharmstandard-Leksredstva OJSC in the amount of $542 million (price per share of 2,235.4 roubles and price per GDR of $20.76) and cash of $48 million, which may be financed from external sources.
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