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TGS Baltic has been a strategic legal advisor to UAB Euroapotheca, a Baltic and CEE pharmacy retail and wholesale group, in purchasing a major Swedish pharmacy chain Apoteksgruppen from the Kingdom of Sweden. The value of the transaction was over EUR 171 million.
TGS Baltic Partner Marius Matonis was advisor to Euroapotheca in this process on transaction related legal issues.
This is the biggest ever Lithuanian investment into the Swedish market and considerably expands business relations not only between Lithuania and Sweden, but also between the CEE and the North European regions, forming one of the leading pharmacy chains in the Northern and Eastern Europe.
The complexity of the transaction was that it consisted of 2 parallel processes: acquisition of Apoteksgruppen Holding Sverige AB, a state-owned central franchise holder, and acquisition of shares in approx. 130 private pharmacy companies owned by over 100 different private entrepreneurs. Both the sale processes were carried out in parallel by different investment bankers, although with a degree of coordination, and within a short period of time (1 month).
Euroapotheca is holding retail pharmacy chains and pharmaceuticals wholesalers in Lithuania, Latvia, Estonia, Poland and Ukraine. The group currently has 454 pharmacies with consolidated revenue of EUR 353 million and employ almost 3,000 staff members servicing over 30 million customers each year. After the closing of the transaction, Euroapotheca will have over 600 pharmacies, the turnover of which will amount to EUR 750 million.
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