Luxembourg-based Aelius, connected to Brazil’s EMS SA, has submitted all necessary documents for the privatization of Serbia’s pharmaceutical company Galenika.

The Ministry of Economy, in charge of the privatization, announced this, adding that the other bid, fron Belgrade-based Amicus SRB, connected to the Swiss HBM investment fund, was rejected due to incomplete documentation.

The opening of the financial offer submitted by Aelius will take place on October 26, Tanjug is reporting.
The ministry on September 1 published a call for a tender to sell a 93.7 percent in Galenika, at the initial price of one euro, plus EUR 25 million to cover the company’s debts to banks, Beta said.

Another attempt at selling Galenika failed earlier this year, as a Russian-British consortium Frontier-Pharma-Petrovax refused to cover the said debt.

B92