Tamro Norway to fit into Apokjeden

Finland's Tamro Corp and Norwegian pharmacy chain Apokjeden SA haveagreed to integrate the former's Norwegian Tamro Distribution unit into the latter. Tamro will sell its majority share in Tamro Distribution to Apokjeden, which in turn will issue a private placement to Tamro.

Tamro's ownership of Apokjeden will rise to 49%. As a net result of the transactions, Tamro will strengthen Apokjeden's capital structure by 220 million Norwegian kroner ($25.2 million). At present, Apokjeden covers nearly 40% of pharmacy sales in Norway which, added to Tamro Distribution's 30% market share, will make it a formidable force.