Profarma reports on purchase of Drugstore Rosary for 173 mi R$

São Paulo-Profarma Distribuidora de Pharmaceuticals announced on Monday that its subsidiary Nice RJ Shares concluded with the Brazil Pharma contract for acquisition of all of the common shares issued by the Drugstore Rosario S.A.
The acquisition was carried out at the price of 173,000,000 reais, which will be paid in two installments: the first, in September, and the second, 36 months after the closing of the acquisition, according to press release of Profarma.
Operation is subject to the approval of the Administrative Council for economic Defense (Cade).
The contract concluded on 25 September day also includes all of the issued shares of Midwest Pharmaceutical distributor of Medicines Ltd (COF).
In early September, Reuters reported, citing sources, that the Brazil Pharma, third largest pharmaceutical retail company in the country, was close to selling the Drugstore Rosary to Profarma distributor of pharmaceutical products, for sale that could achieve around 200,000,000 reais.