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BIC co-advised PGF S.A., the top pharmaceuticals distribution company in Poland, on its investment into Lithuanian pharmaceuticals wholesale and retail sectors

On July 23, 2007 Polska Grupa Farmaceutyczna S.A., listed on Warsaw Stock Exchange, announced that on June 16, 2007 it signed a framework agreement opening up an opportunity for equity investments in Lithuania. The investment of PGF S.A. involves the purchase from various owners of a number of wholesale and retail distributors of pharmaceuticals operating in Lithuania, the major of which are Limedika – pharmaceutical wholesaler and Gintarine Vaistine – operator of a chain of pharmacies. Transaction value EUR 22.5m (enterprise value – EV) in the first stage to be completed by acquiring majority stakes in the Lithuanian companies.

Baltic Investment Company acted as a co-advisor to Polska Grupa Farmaceutyczna S.A. in the transaction.

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