Watchdog PSzÁF approves Servier offer for Egis shares

Deals

Hungary’s financial watchdog PSzÁF has approved an offer by France-based Servier group to buy all the shares of pharmaceuticals company Egis that it does not already own, Egis said in a statement on Friday.

French pharmaceutical company Les Laboratoires Servier offered to buy the remainder of Hungary’s Egis Nyrt which it does not already own for HUF 107 billion ($483 million) or HUF 28,000 ($130) per share, and pull the stock from the Budapest Stock Exchange.

The offer will be open between Oct. 2 and Nov. 5, Egis said.

Egis shares closed up 0.25% at HUF 27,500 on Friday.

Egis, which is active in Central and Eastern Europe including Russia, has increasingly relied on exports for sales growth as Hungary’s government curbed has curbed drug spending to rein in the budget deficit.

Policymakers Cut Central Bank Base Rate by 50 bp to 7.75% MNB

Policymakers Cut Central Bank Base Rate by 50 bp to 7.75%

Bulgaria's Household Income, Spending Rise 20% in 2023 World

Bulgaria's Household Income, Spending Rise 20% in 2023

Spar Magyarország Revenue Climbs Close to 16% in 2023 Retail

Spar Magyarország Revenue Climbs Close to 16% in 2023

Hungary Launches HUF 15 bln Tourism Sector Support Program Tourism

Hungary Launches HUF 15 bln Tourism Sector Support Program

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.