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GHG to acquire ABC Pharmacia

21 November 2016 07:20

Georgia Healthcare Group has agreed to acquire JSC ABC Pharmacia, the fourth largest pharmaceutical retailer and wholesaler in Georgia, from certain private shareholders.

GHG will merge ABC with its existing pharma business, GPC, and the name of the merged company will be JSC Georgian Pharmacy.

Upon completion of the Transaction, GHG will own a 67% equity stake in the combined pharmaceutical business and the remaining 33% minority stake will be owned by ABC's existing main shareholders, Enriko Beridze an Mikheil Abramidze.

GHG says this transaction underpins its expansion strategy and further consolidates GHG's position as the leading integrated player in the Georgian healthcare ecosystem of GEL 3.4 billion value.

Story provided by StockMarketWire.com

Related Company: GHG

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