EnglishCzecn - Slovakian financial group J&T said they had no reason to accept the offer of PPF Group NV to take over Czech Republic"s largest generic drugs producer Zentiva NV. "We are observing and analysing the whole situation around Zentiva and will carefully consider future steps," said Petr Makej, spokesman for J&T, which is one of the shareholders in Zentiva. PPF is racing for Zentiva with Sanofi Avensis SA, the largest generic drug producer in France, and proposed 950 Czech koruna for one Zentiva share. In turn, Sanofi - Avensis offered 1050 koruna. Both companies are shareholders in Zentiva and aim to take control. PPF holds 20%, Sanofi - Avensis - 25% and J&T 6%. The Zentiva Board recommended shareholders to reject the buyout offer from PPF Group.
J&T Turns Down PPF Offer For Zentiva
F.A.
Ziarul BURSA #English Section / 25 iunie 2008
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