Richter enhances stake in GZF Polfa to near 100%
Hungarian drugmaker Richter Gedeon has increased its stake in Polish enterprise, GZF Polfa, to 99.8%. Richter acquired this option in the 2002 privatization of the pharmaceutical enterprise and has now exercised its right to purchase the 29.6% stake in the company that was still owned by the Polish Ministry of Treasury for a fee of 87.3 million zloty ($42.7 million). The Hungarian firm says it will use this near-100% control of the formerly-public firm to further enhance its market position in Poland.
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