Date: 2012-08-23
Type of information: Company acquisition
Acquired company: Farma-Projekt (Poland)
Acquiring company: Recordati (Italy)
Amount: PLN 71.0 million (€16.9 million)
Terms: * On August 2, 2012, Recordati has announced the signature of the agreements covering the acquisition of 100% of the share capital of Farma-Projekt Sp. a Polish pharmaceutical company with headquarters in Krakow. The value of the transaction (enterprise value) is of PLN 71.0 million and will be funded from existing liquidity. The closing of the transaction, expected to take place in the following months, is subject to certain conditions.
* On August 23, 2012, Recordati has announced the successful conclusion of the acquisition of 100% of the share capital of Farma-Projekt. The value of the transaction (enterprise value) is of PLN 71.0 million of which PLN 50.8 million were paid at the closing. Of the remaining balance a portion will be paid in tranches on future dates and a portion comprises the company’s debt.
Details: Farma-Projekt operates on the Polish pharmaceutical market since 2003 and markets drugs belonging to a variety of therapeutic areas, mainly cardiovascular and urological treatments as well as dietary supplements. The company employs around 135 personnel, of which 84 are dedicated to sales and marketing. Sales in 2011 were of around PLN 47 million. The balance sheet of the acquired company will be consolidated in the Recordati group financial statements at 31 August 2012 while the income statement will be consolidated as from 1 September 2012.
Related: cardiovascular diseases
urological diseases
