Czech pharma Zentiva buys 75 pct stake in Turkey's Eczacibasi for 460 mln eur |
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Mon, 05 Mar 2007 11:35
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PRAGUE (AFX) - The Czech Republic's biggest pharmaceutical company, Zentiva, said it has agreed to buy 75 pct of Turkey's biggest drug company Eczacibasi Generic Pharmaceuticals for 460 mln eur.The Czech company, which already has plants in Slovakia and Romania, added that it will also have the right to buy the remaining 25 pct of the company within two years.'Turkey is, from a world perspective, one of the most dynamic pharmaceutical markets and Eczacibasi Generic Pharmaceuticals gives us a leading position on that market,' said Zentiva general manager Jiri Michal.The deal fulfils part of Zeintiva's strategy of developing on key markets in Central and Eastern Europe, he added.Zentiva's biggest shareholder is French-based drugs company Sanofi Aventis, which has a 24.9 pct stake. Zentiva shares are traded on the Prague and London stock exchanges.newsdesk@afxnews.comafp/harCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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