CV Protek to buy parent company shares at 15.3% discount
MOSCOW. Dec 26 (Interfax) - Pharmaceuticals wholesale distributor CJSC CV Protek will buy 24.95% of parent company OJSC Protek's shares at 43 rubles a share , Protek said in a statement.
This represents a discount of 15.3% over the 50.76 rubles at which Protek's shares closed trading on December 25.
The Protek subsidiary sent an offer to buy 131,262,286 shares in the parent company to the Central Bank's Financial Markets Service on December 10, so it could spend up to 5.644 billion rubles on the share purchase.
The purchase offer is open for 70 days, until March 6.
If shareholders in the parent company tender their shares for purchase, CV Protek could arrange a loan with Sberbank : the two signed an agreement on a banking guarantee of 6 billion rubles on December 6.
CV Protek owns 0.4581% of shares in the parent company (2.415 million shares), after increasing its stake from 0.2684% with the purchase of 1 million shares on December 5.
Protek conducted an IPO on the RTS and MICEX exchanges in April 2010, placing shares at approximately 100 rubles per share.
Protek's main shareholders as of June 30, 2013 were board chairman Vadim Yakunin (27.9%), Cyprus-registered Sekrozon Investments Ltd (19.5%), Streitum Investments Ltd (16%) and Tantarra Holdings Ltd (10.8%).
The Protek group includes CV Protek, pharmaceutical producer Sotex Pharmfirm and the Rigla pharmacy chain.