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Katren buys out ErcaFarm
- By Newsdesk
- Russia
- Jun 05, 2023
The acquisition of 100% of the Ercapharm Group of Companies by Katren JSC has been completed. According to reports, the group now owns 100% of the shares in the company that combines the pharmacy chains Doctor Stoletov, Ozerki, and Samson-Pharma.
Katren acquired 24% of Ercapharm JSC in June 2021. Simultaneously, the group applied to the FAS Russia for a controlling stake in the company (50.01%). The agreement was reached in August of the same year, but with a prescription. FAS insisted on limiting the number of pharmacies owned by the transaction's participants in the Oryol region. Furthermore, the combined network will be unable to open new drugstores in St. Petersburg for three years, and after that, it will be able to expand in the region only with the approval of the antimonopoly service.
Katren's plans to consolidate Ercapharm shares in April 2023 were revealed in April. Katren stated at the time that they intended to "synchronise the main standards of operating management and corporate governance of the retail segment of the Katren group of companies, which included the Melodiya Zdorovya and Ercapharm pharmacy chains."