Tuca Zbarcea and Asociatii advised Interbrands in the purchase of Europharm from GSK
Law office of Tuca Zbarcea and Asociatii advised the buyer, the company Interbrands Marketing and Distribution in acquisition of medicine distributor Europharm Holding, sold by British medicine producer GlaxoSmithKline.
2015-10-19 14:01:26
The transaction has been signed on October 13 and represents the first stage of a more complex process, the lawyers announced. The deal is now pending the Competition Council agreement. The lawyers' team that advised on the transaction comprised the coordinator, Andreea Lisievici (Managing Associate, Andreea Oprisan (Senior Associate) on competition matters, Ruxandra Frangeti (Senior Associate) on commercial and organizational legal matters.
GSK Romania announced recently that it would sell its medicine distributor Europharm in Brasov to FMCG company Interbrands Marketing&Distribution, the latter marking its entrance on medicine distribution.
Following this GSK is looking to sell the assets, representing plots and buildings where Europharm facility is located. The selling transaction will be submitted for approval to the Competition Council in Romania, as required by law, the pharmaceutical producer announced in a press release. The selling agreement has been signed yesterday.
"This marks a significant moment for Europharm Distribution, which has become one of the most important companies in the distribution of pharmaceutical products in Romania. Europharm Distribution plays an important role in the market for distribution of pharmaceutical products Romanian and for GSK in Romania so that, the due diligence analysis regarding Interbrands, GSK has taken into account the buyer′s commitment to business continuity and employee welfare," said George Katzourakis, SVP Head Europe Area, Pharma Europe.
Europharm Distributie is an important local medicine distributor with 20-year background on the local market. Interbrands is part of Sarkis Group International, the largest Romanian FMCG company. Following this transaction, Interbrands will compete with medicine distributors such as Mediplus, Farmexim, Farmexpert, Fildas and Polisano. Interbrands also distributes products of companies and brands such as British American Tobacco, Philip Morris, Procter&Gamble, Kotanyi, Henkel, Nestle Nutrition, Tchibo, 3M, Comceh, Mondelez and Angelli. It achieved a turnover of 152 million Euro in 2014, 8 per cent advance compared to previous year, according to the company data.
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