Finnish Oriola-KD Buys Into Russian Market

HELSINKI (Reuters) - Finnish drugs distributor Oriola-KD (OKDBV.HE) said on Monday it would enter the Russian market by acquiring 75 percent stakes in Russian phacmaceuticals retailer Vitim & Co and wholesaler Moron Ltd.

Oriola-KD said it expected the acquisitions to cost 70 million to 90 million euros ($93.2-$120 million) depending on the financial performance of the companies bought this year.

Vitim operates in the Moscow region and had 2007 sales of 76 million euros, while Moron runs wholesale business around Russia and reported 296 million euros sales last year.

Oriola-KD also said it agreed to acquire the remaining 25 percent in both companies in 2010.

(Reporting by Terhi Kinnunen; Editing by Quentin Bryar)