EnglishShareholders in Gedeon Richter Romania on January 11th decided to borrow 14 million EUR from the majority shareholder, Richter Gedeon Vegyeszeti Gyar Rt. Payments towards this loan will begin in 2008 and are scheduled until 2013. The Interest rate is 4%. The funds will be used for vertical development. Gedeon Richter - Hungary in December 2006 bought the pharmaceuticals distribution company Dita Group - Romania for 14.5 million EUR, thus obtaining a 4.5% share of the respective market through a network of some 60 pharmacies. Dita concluded Y2005 with earnings of 45.6 million EUR, whereas the market leader, A&D Medipharm (16% market share), reported earnings of 208 million EUR. One of the reasons for the acquisition is that Romanian distribution companies have significant negotiation power with both drugs producers and pharmacies. Gedeon Richter - Romania ranks 13th among pharmaceuticals companies in terms of sales with 94 million RON.
Gedeon Romania Borrows 14 Mln EUR From Majority Shareholder
F.A.
Ziarul BURSA #English Section / 6 februarie 2007
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