Recordati finalizes second tranche of Opalia Pharma acquisition

27 May 2014

Following previous announcements about its M&A activity, Italian drugmaker Recordati (RC: MI) has now announced the successful conclusion of the acquisition of a further 23% of the share capital of Opalia Pharma a Tunisian pharmaceutical company with headquarters in Ariana, near Tunis.

Last year, Recordati revealed plans to take over Opalia in as transaction valued at some $48 million (80 million Tunisian dinar; The Pharma Letter July 25, 2013). This second tranche consists of share capital held by Tunisian shareholders.

In October 2013, following permission received from the Tunisian anti-trust authorities, 67% of the share capital of Opalia Pharma held by non-Tunisian shareholders, one of which is The Abraaj Group, was acquired. An amount of 22.6 million euros ($30.8 million) was paid at the closing.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK



Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight





More Features in Generics