Hogan Lovells (CIS) advises on US$152m acquisition of the controlling stake in the listed Russian pharma manufacturer OAO Veropharm
30 August 2013
Hogan Lovells (CIS) advised on RUR5bn (US$152m) acquisition of 52.015% in OAO Veropharm by OOO Gardenhills affiliated with the Russian billionaire Roman Avdeev, controlling shareholder of the Moscow Credit Bank (MKB). OAO Veropharm is the leading Russian pharmaceutical producer and was before the acquisition the manufacturing arm of the leading Russian health & beauty retailer 36.6 listed at the Moscow stock exchange.
With the sale of Veropharm OAO Pharmacy Chain 36.6, once the leading pharmacy retailer in Russia, started its comprehensive business restructuring programme which is likely to involve debt restructuring and other actions.
Mr. Avdeev continues to be interested in pharmaceutical sector and an active investor otherwise, in addition to being praised for being an exemplary father for 23 children.
Our team had successfully assisted the client through rapid and intense negotiations process under a tight schedule. The team was led by Oxana Balayan, managing partner and head of corporate practice at Hogan Lovells (CIS) and senior counsel in the corporate practice, Maria Baeva supported by senior associate Leonid Ervits and associate Konstantin Kontievskiy.
Oxana Balayan comments:
"We are glad to have advised on this remarkable acquisition in the pharmaceutical sector, cementing our position as a leading advisor in life sciences sector."