Acquisitions and divestments of Oriola-KD

Acquisitions

 

3 June 2013 – Acquisition of Medstop pharmacy chain in Sweden

 

Oriola-KD acquired Sweden's fifth largest pharmacy chain Medstop Group Holding AB "Medstop") from Segulah Management IV Limited. The total value of the acquisition was SEK 1460 (EUR 176) million, comprising of three separate items: a SEK 680 (EUR 82) million cash payment, net debt of the acquired company, and a conditional earn-out payment payable on the basis of the consolidated 2015 EBITDA of Oriola-KD's combined Swedish Retail business. Oriola-KD financed the acquisition in full with a bank loan.

 

30 November 2012 - Acquisition of minority share of Swedish Retail business

 

Oriola-KD acquired the 20 per cent minority share in Swedish retail company Kronans Droghandel Apotek AB (Kronans Droghandel) from Kooperativa Förbundet ekonomisk förening (KF). The acquisition price paid in cash is approximately EUR 12.3 million. As a result of the share acquisition Oriola-KD booked a EUR 3.5 million financial income which has no cash flow impact. After the acquisition Oriola-KD Corporation owns 100 per cent of Kronans Droghandel.

 

31 August 2010 – Acquisition of 03 Apteka pharmacy chain in Moscow

 

Oriola-KD acquired 100 percent ownership of the Moscow-based Russian pharmaceutical retail company OOO 03 Apteka, which operates 70 pharmacies in Moscow and the Moscow region. The final purchase price was expected to be some 12 MEUR, and will be finally determined in accordance with terms and conditions of the transaction by the end of 2010. The purchase price is paid in cash.

 

24 February 2010 – Completion of Russian acquisition

 

Oriola-KD acquired the remaining 25 per cent of the shares of Moscow-based pharmaceutical retail company OOO Vitim and the pharmaceutical wholesale company OOO Moron. After the acquisition Oriola-KD owns 100 per cent of its Russian subsidiaries. The acquisition price for the remaining 25 per cent is EUR 65.0 million. The total purchase price paid for the Russian companies is EUR 153.7 million in cash. In addition Oriola-KD has provided the Russian companies with long-term financing amounting to approximately EUR 65 million.

 

9 November 2009 - Entering Swedish Pharmaceutical retail market

 

Oriola-KD and Kooperativa Förbundet (KF) signed a share purchase agreement with Apoteket AB (publ) on the acquisition of 100 per cent of the shares of Pharmacy Company Sweden 2 AB, a national pharmacy cluster with 171 pharmacies. According to the shareholders’ agreement, Oriola-KD holds an 80 per cent ownership and KF 20 per cent in the company. The acquisition was closed on 19 February 2010 and the final purchase price of the acquisition was EUR 161.0 million. Acquisition was paid in cash.

 

6 March 2009 – Increasing the holding of Kronans Droghandel

 

Oriola-KD increased its holding in Kronans Droghandel AB in Sweden from 98.13 per cent to 100.00 per cent after acquiring the minority holding of Organon AB in KD on 6 March 2009. The share purchase was paid in cash. Purchase price was not disclosed.

 

26 June 2008 - Increasing the holding of Kronans Droghandel

 

Oriola-KD increased its holding in Kronans Droghandel AB in Sweden from 85.62 per cent to 98.13 per cent after acquiring the minority holding of Merck Sharp & Dohme (Sverige) AB in KD. The share purchase was paid in cash. Purchase price was not disclosed.

 

March 2008 - Entering Russian pharmaceutical retail and wholesale market

 

Oriola-KD signed an agreement to acquire a 75 percent share of the Moscow-based Russian pharmaceutical retail and wholesale companies Vitim & Co and Moron Ltd. The acquisition consideration was EUR 70 - 90 million based on the financial performance of the acquired companies in 2008. Oriola-KD also agreed to acquire the remaining 25 percent share of the companies in 2010 at a value based on the financial performance of the companies in 2009. The acquisition of Vitim and Moron was a major strategic step forward for Oriola-KD in investing in Russia’s fast-growing pharmaceutical market. The closing of the transaction took place on 21 April 2008.


14 November 2006 – Increasing the holding of Kronans Droghandel

 

Oriola-KD increased its holding in Kronans Droghandel AB in Sweden from 82.69 per cent to 85.62 per cent after acquiring the minority holding of Astra Arcus AB in KD. The share purchase was paid in cash. Purchase price was not disclosed.

 

31 August 2006 – Increasing the holding of Kronans Droghandel

 

Oriola-KD increased its holding in Kronans Droghandel AB (KD) in Sweden from 69.39 per cent to 82.96 per cent after acquiring the minority holdings of Pfizer AB and Pfizer Health AB in KD. The share purchase was paid in cash. Purchase price was not disclosed.  

 

Divestments  

28 October 2010 – Sale of remaining 30 per cent holding of dental trade business to Lifco

 

Oriola-KD sold its minority holding of 30 per cent in Lifco Dental International AB, to Lifco AB. Lifco paid approximately EUR 69 million in cash for Oriola-KD’s minority holding. Oriola-KD recognised a profit of some EUR 37 million from the transaction. The sale of the Dental Trade business supports Oriola-KD’s strategy to focus on pharmaceutical retail and wholesale businesses.



12 May 2010 – Sale of Healthcare Trade business to Mediq

 

Oriola-KD signed an agreement to sell its Healthcare Trade businesses to the stock listed Dutch company Mediq N.V., international provider of pharmaceuticals and medical devices. The sale of the Healthcare Trade business supports Oriola-KD’s strategy to focus on pharmaceutical wholesale and retail businesses. According to the agreement all Oriola-KD’s Healthcare Trade businesses in Finland, Sweden, Denmark, Estonia, Latvia and Lithuania will be transferred to Mediq. The closing took place on 31 May 2010. Mediq paid EUR 85 million in cash for the acquisition. Oriola-KD recorded a profit of approximately EUR 60 million from the sale of the business.

 

June 2007 - Joint venture of dental trade business with Lifco

 

Oriola-KD and Swedish Lifco AB agreed to merge their dental wholesale businesses in Finland, Sweden, Norway, Denmark and the Baltic countries to form a new market leader in Northern Europe. Furthermore, Oriola-KD increased its stake in the new company to be founded to 30 per cent through a further cash contribution of EUR 14 million. Lifco will have a 70 per cent stake of the new company.