PRESS RELEASE
A preliminary contract for the sale of 49% of the K.P. MARINOPOULOS S.A. shares to GR. SARANTIS S.A. was signed.
K.P. MARINOPOULOS S.A. is concerned with the distribution and representation of pharmaceutical products with a significant export activity. In 1999, K.P. MARINOPOULOS reported 20,5 billion Drs. in sales and 530 million Drs. in profits before tax, while in 2000 sales are expected to reach 25 billion Drs. and profits before tax 1,1 billion Drs.
By this acquisition SARANTIS Group continues its strategic expansion in the pharmaceutical sector. K.P. MARINOPOULOS extended network and long-term co-operation with powerful pharmacies all over Greece are expected to enhance the Group’s position in this sector.
The Sarantis plans for the next two years, is the continuation of its efforts to expand in the pharmaceutical sector with the objective to establish a Group with a leading position. This will be achieved through acquisitions and strategic alliances with other companies operating in the pharmaceutical business.
This acquisition costed 1,2 billion Drs., while the agreement makes also provision for a capital increase of 0,9 billion Drs in K.P.MARINOPOULOS S.A.
Contact
SARANTIS Group
26, Amaroussiou - Halandriou Street
151 25 Maroussi, Athens, Greece
Tel: +30 210 6173000
Fax: +30 210 6197081
e-mail: group-info@sarantisgroup.com
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