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Abbott Can Acquire Russian Veropharm By The End Of The Year

The deal forthe acquision of Russian pharmaceutical company Veropharm by American Abbott company can be closed by the end of this year. This was reported by the owner of Veropharm majority shareholder GardenHills and main shareholder of Moscow Credit Bank Roman Avdeev.

Abbott Can Acquire Russian Veropharm By The End Of The Year

GardenHills managed to consolidate about 98% of the securities drugmakers. As of mid-July 81.19 % of shares of Veropharm belonged to GardenHills, the remaining 18.81 % was the minority of shareholders. Thus, it is 98% of the shares that will be transferred to Abbott.

In September 2014, the government commission responsible for foreign investments monitoring approved the acquisition of Veropharm by American manufacturer. The deal is estimated to reach 650 million dollars.

According to the head of the Federal Antimonopoly Service (FAS), another 250 million will be spent on the construction of industrial complexes and software localization of the production. As a result, Russia will have about 1.5 thousand new jobs.

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