Aelius offering EUR 16 million for Galenika – Workers to get EUR 200 per year of service

The company Aelius S.A.R.L. Luxembourg offers EUR 16 million for the purchase of 93.72914% of the total capital of Galenika, it was stated in the financial bid which was opened today at the premises of the Ministry of Economy.

The commission for carrying out the procedure of the sale of capital has determined that the bid meets the terms of the public invitation and reached the Decision proposing to the Ministry of Economy to pronounce Aelius S.A.R.L. Luxembourg the buyer.

Aelius, which is a related company of EMS S/A Brazil, is the sole bidder to meet all the terms for taking part in the process of privatization of Galenika.

As the Ministry of Economy announced, the buyer will be obliged to pay, in addition to the sales and purchase price of EUR 16 million, the amount of of EUR 25 million for the purpose of repayment of debts towards banks, as well as an additional amount of EUR 200 per year of service for the employees who have opted for the voluntary social program. The buyer also obliges to a mandatory investment of EUR 5.525 million in Galenika in the next two years and to keep the number of employees from going below 900 for an indefinite period of time.

The agreement with Aelius, as the Novosti daily learns, will most probably be signed next week.

Let us remind that there were two bids at the tender for Galenika initially, but only Aelius submitted full documentation.

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Ministarstvo privrede Republike Srbije

EMS S.A. Brazil

Aelius

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Galenika debts