26 Apr 2019 13:16

Consortium of investors led by RDIF to invest more than 4 bln rubles in Obolenskoe pharmaceutical holding, to receive 28% stake

BEIJING. April 26 (Interfax) - A consortium of investors consisting of the Russian Direct Investment Fund (RDIF), the Russia-China Investment Fund (RCIF, created by the RDIF and China Investment Corporation), as well as Middle Eastern funds, has announced its entry into a project aimed at creating a pharmaceutical holding on the basis of the enterprises of JSC PE Obolenskoe (OBL Pharm).

In December 2018, AFK Sistema , VTB and Obolenskoe management purchased shares in the enterprise from the company Alvansa Ltd., the principal shareholders in which were Gazprombank and UFG Private Equity.

The members of the consortium of investors have been given the right to participate in the deal after its additional analysis is concluded, the RDIF said in a statement.

In accordance with signed binding documentation, the investors will pay more than 4 billion rubles for a stake in OBL Pharm, AFK Sistema said.

Following the deal, the effective stake of the consortium of investors in the capital of Obolenskoe will be 28%, with 46% for VTB and 13% for Sistema. It is expected that the deal on the entry of the consortium into the capital of Obolenskoe will be closed before the end of Q2 2019, provided that a series of suspensive conditions, including securing corporate approvals, are met, Sistema said.

OBL Pharm was established based on the State Research Center for Applied Microbiology and Biotechnology in Obolensk, Serpukhov District, Moscow Region. The company has been part of Alvansa Group since 2013, whose main shareholders are Gazprombank and UFG Private Equity. The company produces over 150 pharmaceuticals at its plant in Obolensk with capacity of 330 tonnes of tablet mass per year, with another plant with capacity of 900 tonnes due to be launched in 2019.

AFK Sistema immediately announced the further merger of the asset with JSC Binnopharm, in which Sistema holds a 74% stake. The unification of OBL Pharm and Binnopharm will make it possible to "significantly boost the value of the business," Sistema said in a statement.