Pharmstandard to buy 10.87% stake in Afobazol trademark owner for 242 mln rubles
MOSCOW. Aug 12 (Interfax) - Pharmstandard is buying 10.87% of shares in a subsidiary, Donelle Company Limited, which is the 100% owner of CJSC Afopharm, the company that owns the trademark to Afobazol, Pharmstandard said in a press release.
Pharmstandard will pay 120.9 million rubles to buy 5.4% of shares in Donelle from Pharmstandard board member Alexander Shuster and another 5.47% of shares from third parties for the same amount, meaning it will pay a total of 241.8 million rubles for 10.87% of shares.
The board of directors approved acquisition of shares from Shuster at an August 9 meeting.
Pharmstandard will finance the purchases internally.
Pharmstandard currently owns 89.07% of Donelle shares, which has been a subsidiary since 2008. The transaction will raise the company's stake in Donelle to 100%, according to the press release. Pharmstandard did not specify to Interfax when the purchases would be closed.
Shuster, who has been a member of the Pharmstandard board since 2011, is one of Afopharm's founders, as well as a number of other companies that Pharmstandard has acquired, including CJSC Lekko Pharmaceuticals, CJSC Vindexpharm (which owned rights to the Atsipol trademark), CJSC Masterlek (which owned the Arbidol, Amixin and Flucostat brands). In addition, Pharmstandard plans to purchase Singapore-registered Bever Pharmaceutical from Shuster for $630 million.
