Terapia Cluj, second-largest exit in CEE region

The sale of Cluj-based Terapia by the investment fund Advent International to the Indians at Ranbaxy was the second largest transaction in Central and Eastern Europe in 2006, reads a survey by the Deloitte consultancy company. The sale entailed transferring 97% of the Cluj-based drug maker's shares and took place in April this year. The only deal to top this 270 million euro transaction was the sale of a 20% stake in the Czech drug maker Zentiva by Warburg to Sanofi Aventis for 430 million euros. The Deloitte study also mentions other important transactions on the Romanian market, such as the sale of the Artima supermarket chain by SEAF and other investors, as well as the sale of TotalSoft to the Global Finance investment fund and the exit of Baring Private Equity Partners from Infopress SA. Inv estment funds are becoming increasingly interested in the Romanian market in particular and in Central and Eastern Europe in general, the Deloitte study points out.