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Brazil Pharma SA Updates on Merger by Incorporation of Subsidiary

Monday, 1 Apr 2013 09:26am EDT 

Brazil Pharma SA announced that following the information disclosed to the market on November 28, 2011 and May 11, 2012 related to the merger by incorporation of the Company‚Äôs subsidiary Sant ana SA Drogaria Farmacias (Sant ana) by the Company shareholders will deliberate on the issue on April 30, 2013. Sant ana, Anick Andrade Cunha (Anick), Emilia Andrade Ribeiro (Emilia) and together with Anik Sellers), and Edza Martins Brasil (Edza), EG Drogarias SA (EG), Farmacia Morimoto Ltda, Farmais Franchising SA, Carlos de Souza Andrade, Geraldo Souza Andrade and the Company signed an investment agreement according to which Sant ana will acquire a 78.87% stake in EG (already held on September 28, 2012) and the incorporation by Sant ana of remaining shares of EG. In result, Sant ana will hold the total of the shares of EG. After this, the Company will incorporate shares of Sant ana held by Sellers which they received following the merger by incorporation of shares of EG and the subsequent increase in the share capital of the Company so that Sellers will become shareholders of the Company. Holders of ordinary shares of Sant ana will receive 300,000 new shares of the Company in the proportion of 0.178134289199498 new ordinary shares of the Company for each one share of Sant ana held. 

Company Quote

-0.1 -4.00%
19 Dec 2014