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Pliva shareholders deposit 90 percent of company shares with Central Depository Agency

The owners of 90 percent of Pliva shares have decided to accept the offer from the US company Barr Pharmaceuticals to buy Pliva at 820 kuna per share, according to the latest data released by the Central Depository Agency (SDA).

ZAGREB, Oct 12 (Hina) -

The owners of 90 percent of Pliva shares have decided to accept the offer from the US company Barr Pharmaceuticals to buy Pliva at 820 kuna per share, according to the latest data released by the Central Depository Agency (SDA).

A total of 16.8 million or 90 percent of Pliva's 18.6 million shares was deposited with the SDA by midnight on Wednesday.

An increase in the percentage of deposited shares is possible after the arrival of deposit forms sent by post. A decrease is possible as well, if some shareholders decide to withdraw their offer, which is considered unlikely.

Reservations for Barr's offer will be processed until October 19, when the bidder will be informed about the final data.

On October 24 or a day later Barr will pay the SDA for all shares deposited by shareholders who have accepted its offer, after which the SDA will transfer the money to the shareholders.

After the transaction is completed, the public will be informed about Barr's share in Pliva and other data which it must make available as a company with shares listed on the stock exchange, SDA Management Board member Ante Brguljan said.

Thus the main condition from Barr's offer, namely the acquisition of at least 50 percent of Pliva's capital stock plus one share, was met.

A two-week deadline for making payments to the shareholders started at midnight on Wednesday.

The value of Barr's offer is 15.25 billion kuna.

If Barr acquires Pliva, the Croatian drug company will be based in Croatia, it will keep its name and will be Barr's centre for business operations in Europe.

By acquiring Pliva, Barr will become the world's third largest generic drug company.

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