Euroapotheca, the owner of Eurovaistine, a major Lithuanian pharmacy chain, has obtained regulatory approval for its takeover of a chain of nearly 160 pharmacies in Sweden.
Euroapotheca, which is part of Vilniaus Prekyba (VP), one of Lithuania’s biggest business groups, said on Friday that it had received the green light from Sweden’s competition authority to buy 100 percent of shares in Apoteksgruppen i Sverige Holding (AGHAB), a company that provides franchise services to 189 pharmacies operating under the Apoteksgruppen brand, from the Swedish government.
The Lithuanian company expects to finalize the deal next week.
The competition authority also allowed Euroapotheca to purchase 156 of Apoteksgruppen’s privately-owned pharmacies, with the deal expected to be closed by the end of the first quarter.
The Swedish government has said that Euroapotheca will pay 1,694 million Swedish kroner (EUR 170.7 mln) for 100 percent of shares in AGHAB and its franchise services. The Lithuanian company would not say how much money will be paid to the private owners of individual pharmacies.
Once closed, the deals will see Euroapotheca become the fourth largest player in the Swedish pharmacy retail market, running a chain of 159 pharmacies and providing franchise services to 30 independent pharmacies that will continue to operate under the Apoteksgruppen franchise.
