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Aelius buys Galenika for 16 million euros plus 25 million euros of debt

Staff Writer | October 28, 2017
Luxembourg-based Aelius has offered 16 million euros to purchase 93.7 percent of Galenika’s capital, the Ministry of Economy of Serbia announced.
Acquisition   The Ministry announced the tender on September 1
As announced after the opening of Aelius’ financial offer, the privatization commission noted that the bid was submitted in accordance with the public invitation and that it fulfilled all the prescribed conditions, and adopted a decision proposing to the Ministry of Economy to declare the company the buyer.

Aelius was the only participant in the tender who fulfilled all conditions for participation in the privatization process.

The ministry added that the buyer will be under obligation to, in addition to the 16 million euros, pay debts worth 25 million euros that Galenika owes to commercial banks.

Aelius will also have to invests 5.525 million euros, and keep the number of full-time workers above 900.

The Ministry of Economy announced the tender on September 1, offering 93.7 percent of Galenika’s capital for the starting price of one euro, plus payment of the 25 million euros debts.