Zakłady Farmaceutyczne Polpharma agreed on 6 May to launch a voluntary takeover offer for Biofarm, the Bucharest-listed pharmaceutical maker, at RON1.379 a share.
Why Zakłady Farmaceutyczne Polpharma S.A. is buying Biofarm S.A.
Polpharma described the deal as a strategic priority and a significant step in expanding its footprint in the region.
Deal terms and financing
Biofarm's two main shareholders, Longshield Investment Group and Lion Capital, together holding about 88.4%, undertook to tender all their shares. Biofarm planned to pay a special dividend of RON0.140263 a share before the offer opened.
Regulatory approvals and timing
The offer required approval from Romania's Financial Supervisory Authority, which cleared it. Polpharma's legal adviser CMS has since said the acquisition was implemented through the offer.
Market context
Biofarm is one of Romania's longest-established pharmaceutical companies. CMS said the roughly €270m deal is among the most significant public M&A transactions on the Romanian capital market in recent years.
