Recordati finalizes second tranche of Opalia Pharma acquisition
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.
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