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Recordati Industria Chimica E Farmaceutica SpA to Acquire 90% Stake in Tunisian Opalia Pharma SA

Wednesday, 24 Jul 2013 09:21am EDT 

Recordati Industria Chimica E Farmaceutica SpA announced that it has signed agreements for the acquisition of 90% stake in Opalia Pharma SA, a Tunisian pharmaceutical company based in Ariana, in Tunis' suburbs. The enterprise value of the transaction is TND 80 million, approximately EUR 37 million, and will be funded from existing liquidity. The closing of the transaction, expected to take place in the next months, is subject to prior approval by the Tunisian authorities. Opalia Pharma was established in 1988, it markets branded generic drugs with products in dermatology and in the gastrointestinal and respiratory therapeutic areas. Opalia employs 322 people and sales in fiscal year 2013 are estimated to be of approximately TND 40 million (approximately EUR 18.5 million). 

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