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BIC co-advised PGF S.A., the top pharmaceuticals distribution company in Poland, on its investment into Lithuanian pharmaceuticals wholesale and retail sectors
03/08/2007

On July 23, 2007 Polska Grupa Farmaceutyczna S.A., listed on Warsaw Stock Exchange, announced that on June 16, 2007 it signed a framework agreement opening up an opportunity for equity investments in Lithuania. The investment of PGF S.A. involves the purchase from various owners of a number of wholesale and retail distributors of pharmaceuticals operating in Lithuania, the major of which are Limedika – pharmaceutical wholesaler and Gintarine Vaistine – operator of a chain of pharmacies. Transaction value EUR 22.5m (enterprise value – EV) in the first stage to be completed by acquiring majority stakes in the Lithuanian companies.

Baltic Investment Company acted as a co-advisor to Polska Grupa Farmaceutyczna S.A. in the transaction.

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