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Dutch-based Galenica and Shop Apotheke Europe are combining the business activities of private pharmacy Mediservice AG and online pharmacy shop-apotheke.ch in a joint venture, according to a press release on Thursday.
This merger is said to create Switzerland’s leading online pharmacy. Shop Apotheke Europe will own 51 percent of the joint venture and Galenica 49 percent. The transaction is subject to the approval of the competition authorities.
The agreement stipulates that Galenica will sell 51 percent of its shares in Mediservice AG to Shop Apotheke Europe and pay an additional €29 million in cash. In return, Galenica will receive an 8 percent stake in Shop Apotheke Europe as part of the capital increase.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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