EMS SA Brazil affiliated Luxembourg-based Aelius has offered EUR 16 million to purchase 93.7 percent of Galenika’s capital, the Ministry of Economy announced.

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 EUR 16 million, pay debts worth EUR 25 million that Galenika owes to commercial banks. Aelius will also have to invests EUR 5.525 million, 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 EUR 25 million debts.

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