Zentiva goes for another buy with 460M euro offer for 75% of Eczacibasi
Announcing its second acquisition within a few days, the Czech group Zentiva has reached an agreement to purchase a 75% stake in Turkey's largest drug company, Eczacibasi Generic Pharmaceuticals, for 460.0 million euros ($605.8 million). It has also negotiated the right to buy the remainder of the company within two years.
Zentiva, which is 24.9% owned by French pharmaceutical major Sanofi-Aventis, is the Czech Repubic's largest domestically-owned pharmaceutical group and just days earlier announced that it had bought its way into the Hungarian market by way of acquiring a number of assets from Sanofi (see page 2).
Creates Turkey's third-largest generics group
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