Under the implementation agreement signed on 6 May, Polpharma will offer RON 1.37 per share for Biofarm, which trades on the BVB. The takeover bid is addressed to all shareholders of the Romanian company.
Longshield and Lion Capital, which together hold 88.4% of Biofarm's share capital, have committed to tender all their shares in the voluntary takeover offer. "Longshield Investment Group and Lion Capital have undertaken to tender in the VTO all of their shares held in the Company," Biofarm said in its filing.
The launch of the takeover offer requires approval from Romania's Financial Supervisory Authority. Additionally, Biofarm plans to distribute a dividend of RON 0.14 per share to shareholders before the takeover, subject to approval at a general meeting.
