TARK GRUNTE SUTKIENE represented Valeant in acquiring Sanitas AB
TARK GRUNTE SUTKIENE represented the buyer Valeant Pharmaceuticals International, Inc. in acquiring Sanitas AB – the largest transaction in Lithuania this year.
TARK GRUNTE SUTKIENE (attorneys at law Eugenija Sutkienė, Marius Matonis, Deimantė Korsakaitė and other lawyers) represented Valeant Pharmaceuticals International, Inc. in signing the agreement on the acquisition of 87.2% of shares in Sanitas AB, a branded generic pharmaceutical company.
The transactions has been closed today. Valeant has acquired an 87.2 stake in Sanitas, paying EUR 10.06 for an ordinary registered share.
According to the agreement, Invalda AB and other shareholders will be paid EUR 365 million. This is the largest transaction in Lithuania this year.
Sanitas as a major pharmaceuticals company in Lithuania has a broad branded generics product portfolio consisting of 390 products in nine countries throughout Central and Eastern Europe. Annual revenues for Sanitas are expected to be over EUR100 million in 2011.