Pharmacy Chain 36.6 owners boost stake to 78.96%
MOSCOW. Oct 14 (Interfax) - Palesora Limited, an investment vehicle for the core owners of Pharmacy Chain 36.6 , has boosted its stake in the company to 78.96%, Pharmacy Chain 36.6 said.
Palesora's stake grew as the result of a share issue.
"The number of shares that Palesora owns corresponds with the number of shares that the company owned at the end of the second quarter (54.97%), and the number of shares that Palesora acquired during a supplementary share issue," Yury Gusarov, corporate finance director at pharmacy Chain 36.5, told Interfax.
Pharmacy Chain 36.6 and A.v.e Group closed their merger at the end of September, aided by an additional share issue. Palesora Ltd, exercising its preemptive rights to acquire shares, used them to pay for a 100% stake in Apteka-A.v.e. and LLC Apteka-A.v.e-1, making the A.v.e. pharmacy chain part of Pharmacy Chain 36.6.
In all, 871,450,868 shares were placed, which is 62.25% of the entire supplementary issue. Pharmacy Chain 36.6's share capital now consists of 976,450,868 shares, up from 105 million prior to the share issue.
A.v.e was set up in 2011 by Vladimir Kintsurashvili and Ivan Saganelidze, after they had left senior positions at the A5 chain. A.v.e initially controlled 20 pharmacies operating under the Alphega brand.
In September 2012, A.v.e merged with the discount chain Gorzdrav. As a result, Kintsurashvili and Saganelidze and the owners of Gorzdrav, Ivan Zhibarovsky and Tenir Shakaya, each received 22.5% stakes in A.v.e.
A.v.e. Group and Pharmacy Chain 36.6, which merged earlier on an operational level, had a combined 723 pharmacies at the end of 2014. The group is developing the Pharmacy Chain 36.6, Gorzdrav, A.v.e. Luxury, A.v.e., Stary Lekar and 03 Apteka brands.