The founders of the A&D Pharma group, the biggest player inthe pharmaceutical industry, have achieved a 365 million-eurobusiness in the first nine months of the year and could sell thecompany next year. They are now selecting consultants to help themwith the process, market sources say.
The founders, businessmen Ludovic Robert, Michel Eid, RogerAkoury and Walid Abboud control about 60% of the company and latelyhave repurchased shares from the London Stock Exchange where thecompany is traded. They also bought some in deals that had nothingto do with the capital market.
"We were contacted for a potential sale. There were alsoadvisers who suggested to (sell i.e.), but I don't think the marketallows us to get the right price," said one of the shareholders,who wished to remain anonymous. He, however, hinted that if theygot the right price, the shareholders would sell.
Market sources say that the options the shareholders have atthis time are either a sale, the delisting by founding shareholdersor delisting by founders together with an investment fund.
A&D Pharma was in talks with ING over the mandate to sellthe company, though it will most likely employ two consultants,ZF's sources said.
The deal might be concluded in the second half of next year. Theshareholders would therefore be at their second exit from thecompany after having sold some 30% on the London Stock Exchange formore than 120 million euros in 2006.
The latest transactions with A&D Pharma stock in London wereclosed at 4 euros per share, which puts capitalisation at 133million euros.
The valuation of the company, however, will be done separatelyfrom the London Stock Exchange based on this year's financialresults. A&D Pharma will soon integrate a number of companiesoperating in the pharmaceutical industry, which its shareholdersown in neighbouring countries such as Bulgaria, Poland, Hungary,Slovakia and the Czech Republic and will drive up the value of thegroup.
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