Oriola to merge pharmacy chain Kronans Apotek with Apoteksgruppen in Sweden
09/02/2022 08:07
STOCKHOLM, Feb 9 (Reuters) - Finland's Oriola OKDBV.HE and
Lithuania-based Euroapotheca have agreed to merge their
respective pharmacy chains in Sweden, Kronans Apotek and
Apoteksgruppen, in a joint venture.
Drug retailer and wholesale group Oriola said on Wednesday
the two chains' enterprise values were around 400 million euros
and 300 million euros, respectively.
The group said in a statement it would transfer liabilities
of around 134 million euros to the new company, while
Euroapotheca would transfer net debt of 82 million euros to it.
Euroapotheca would also pay Oriola 24 million euros in cash.
It said the deal would result in an estimated one-time loss
of around 10 million euros including transaction costs for
Oriola, while parent company Oriola Corporation would book a 100
million euro loss as a result of loan receivables that are not
transferred.
Oriola said it expected to finalise the deal in the second
half of 2022 at the latest, and that the new company would have
an estimated market share of around 25%.
(Reporting by Anna Ringstrom; editing by Niklas Pollard)
((anna.ringstrom@thomsonreuters.com; +46 8 502 423 74; Reuters
Messaging: anna.ringstrom.thomsonreuters.com@reuters.net))