For "GALENIKA" 200 mil EUR- The Tender Will Be Published in September, 15% of the Shares of This Zemun Company Will Be Divided to the Citizens
Do these figures came on the basis of analysis made by privatization advisors, consortium of two companies "Rothschild" and "Citadel", that have been working since April 10 on assessing the value of the company and determining the model of privatization. Completition of the strategy of privatization, the tender conditions and the minimum cost of privatization, the privatization advisors completed in the early August and gave the Agency for Privatization, and now it is waiting for the approval of the Government of Serbia.
In the contrast to the performed assessment made a year ago that they showed that "Galenika" is between 250 and EUR 300 million, says the latest crisis in the conditions of the drugs factory in Zemun worth 200 million EUR. If not offer this price, it will not agree to less, and the tender will be repeated when the market conditions improve. The Privatization Agency has said that the citizens will be divided 15% of the shares of this company, and unofficially as "Blic" has learned, in the tender will be sold 70% of the capital of the Zemun factory.
As mentioned the most serious buyers are Germany "Schtada" (the owner of the "Hemofarm") and Greek "Alapis" (purchased "Šumadijalek"). Although the market share of "Galenika" declined in recent years (from 26% in 2007. to 21% in 2008), when determining the value of is taken into consideration and its potential in the coming years, and a brand names that consists of drugs for the company, such as "Brufen","Bensedin" " Pentraxil", whose value is estimated at about 50 million EUR.
"Galenika" last year achieved net profit of 580 million dinars, while its net profit in 2007. was 60% higher (950 million dinars).
"Galenika" was privatized in 1991. when was sold to Milan Panić, American of Serbian origin, but the sale revoked on the ground that the new owner did not fulfill contractual obligations. Panić was judged on the basis of international arbitration and, as the compensation to him was paid 40 million USD, and Galenika was again found in the state-owned.
(Note: The text is taken in full from the newspaper "Blic" from August 22,2009.)
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