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Pyridam Farma is set to take over Ethica Industri Farmasi

13 June 2022 11:30

JAKARTA – PT Pyridam Farma Tbk (PYFA) will acquire the entire shares of PT Ethica Industri Farmasi (EIF), which initially belongs to Fresenius Kabi AG (FKAG) and Fresensius Kabi Deutschland GmbH (FKDG), worth IDR 163.45 billion.

In the information disclosure quoted Monday (13/6), Nadia Viranty Verdiana, Corporate Secretary of Pyridam Farma, revealed that the shares of EIF bought by PYFA comprise 41,933,333 series B shares and 7,400,000 series A shares. “Approximately 85% of series B shares in EIF belongs to FKAG, and 15% of series A shares will be obtained from FKDG,” she explained in detail.

Originally, EIF’s authorised capital of EIF currently clocks up to IDR 60 billion, while the issued and paid-up capital reaches IDR 49.33 billion. FKAG holds 85% of series A shares, while KFDG lays claims on 15% of series B shares. Then, after this transaction, EIF’s shareholders will consist of PYFA that gains 85% of series B shares and 14.99% of series A shares, as well as PT Pyfa Sehat Indonesia (PSI), its subsidiary, which will be given the remaining 0.001% of series A shares.

This corporate action still needs to be discussed in the Extraordinary General Shareholders Meeting on July 7, 2022. The transaction is reportedly equal to 97.82% of PYFA’s total equity reported in December 2021 of IDR 167.10 billion. (LK/ZH)

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