The approved price for the transaction is RON1.379 per share, and the broker is BCR. The transaction includes all 985.3 million shares of Biofarm, i.e., a 100% stake, with the total value of the offer amounting to RON1.36 billion.
“The tender offer will be conducted exclusively through the market systems on which the shares issued by Biofarm S.A. are traded, thereby allowing unrestricted and unlimited access to all potential sellers, both individuals and legal entities, without in any way determining the persons to whom it is addressed, ensuring equal opportunities for participation,” according to a report published on the Bucharest Stock Exchange (BVB.RO).
Biofarm’s Board of Directors supports the transaction, noting that the proposed price exceeds the average trading price over the last 12 months, RON0.9603, as well as the net asset value.
Polpharma, Poland’s largest pharmaceutical manufacturer, with annual revenue in excess of EUR1.1 billion, has already received authorization from the Commission for the Examination of Foreign Direct Investments.
The two majority shareholders, Longshield and Lion Capital, which own 88.42% of Biofarm together , have committed to selling their stakes as part of the offer. Upon completion of the transaction, the Polish investors intend to initiate a mandatory buyout of minority shareholders and delist the company from the Bucharest Stock Exchange.
(English version by Loredana Fratila-Cristescu)