Greek Alapis interested in takeover of Galenika

Greek pharmaceutical company Alapis announced yesterday (January 26, 2010) that it had submitted the required documentation as the proof of interest in participation in the tender for sale of Serbian pharmaceutical company Galenika.

CEO of Alapis and CEO of Šumadijalek, John Georgakopoulos, says that, as soon as the Greek company's request is accepted by the advisers of the Government of Serbia - Rothschild & Cie and BNP Paribas, Alapis will buy the appropriate documentation from Serbian Government in order to make it possible for the advisers of Alapis to continue evaluation of all the aspects of Galenika's operations.

- At the end of that appraisal, the management of Alapis will make the firm decision on whether to keep on with the acquisition - it is stated in the announcement.

On December 15, 2009, the Privatization Agency of Serbia announced the public invitation in daily newspapers Financial Times and Politika for submission of indicative bids for takeover of Belgrade's company Galenika.

The Agency will invite interested investors to submit their indicative bids for acquisition of the majority share in total registered stock capital of Galenika.

Indicative bids will be received from the investors who have bought the information package, who are active in pharmaceutical industry over the last five years and who registered incomes from the sales of pharmaceutical products of over 100m EUR in 2008.

The financial investors who have purchased the information package and whose total assets at the end of 2008 exceeded 250m EUR will also be able to submit indicative bids.

The deadline for submission of requests for purchase of the information package, which includes the information on the company, the information memorandum and the manual for bidders, is February 19th, and the deadline for submission of indicative bids for purchase of stocks of Galenika is March 19, 2010.