TGS Baltic has advised Euroapotheca, UAB in joint venture with Oriola Corporation, which will be a merger of the Swedish pharmacy businesses of both the parties: Euroapotheca’s Apoteksgruppen and Oriola’s Kronans Apotek. The transaction will create the third largest pharmacy chain in Sweden.
This is the largest transaction of the Lithuanian business in the foreign market ever, having a combined enterprise value of over EUR 700 million. We acted as the leading legal advisor for Euroapotheca in this unique and complex transaction.
Euroapotheca and Oriola will combine the respective pharmacy businesses in Sweden into a 50/50% owned joint venture company to be yet established. The combined entity will have over 470 pharmacies and full online pharmacy operations, over 2,300 full-time employees and an illustrative combined revenue of EUR 1,140 million in 2020 in Sweden.
The transaction is subject to competition authorities’ approval and is expected to close during the second half of 2022 at the latest. Read more at: Euroapotheca’s Apoteksgruppen to merge with Kronans Apotek in Sweden.
Transaction team comprised of Marius Matonis, Aurimas Pauliukevičius, Mindaugas Civilka, Rūta Tikuišytė, Indrė Vickaitė-Liatukė, Paulius Dabulskis advised the client during this process.
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Euroapotheca is an international group of companies in the Northern Europe, managing pharmacy retail chains, e-pharmacies and wholesale companies in Estonia, Latvia, Lithuania and Sweden.
