ZAGREB, March 1 (Hina) - Croatia's pharmaceutical company Pliva on Wednesday announced it had sold its daughter-company "Kvasac d.o.o." to a French company, Cie des Laivres Lesaffre. With a 12 million euro contract, the French will
also take over Pliva's yeast company in Slovakia, as it is owned by the Kvasac company. In the first phase Lessafre will receive a 75 per cent ownership of Kvasac, while the sale of the remaining 25 per cent will follow three years after the signing of the contract. The sale of Kvasac is the result of Pliva's business strategy of getting orientated towards the pharmaceutical field where it can show its value, and the finances from the transaction will be invested into research and development of pharmaceutics, chairman of the Pliva management, Zeljko Covic, told Wednesday's news conference. The French partner has assumed the obligation of holding all employees for at least three
ZAGREB, March 1 (Hina) - Croatia's pharmaceutical company Pliva on
Wednesday announced it had sold its daughter-company "Kvasac
d.o.o." to a French company, Cie des Laivres Lesaffre.
With a 12 million euro contract, the French will also take over
Pliva's yeast company in Slovakia, as it is owned by the Kvasac
company.
In the first phase Lessafre will receive a 75 per cent ownership of
Kvasac, while the sale of the remaining 25 per cent will follow
three years after the signing of the contract.
The sale of Kvasac is the result of Pliva's business strategy of
getting orientated towards the pharmaceutical field where it can
show its value, and the finances from the transaction will be
invested into research and development of pharmaceutics, chairman
of the Pliva management, Zeljko Covic, told Wednesday's news
conference.
The French partner has assumed the obligation of holding all
employees for at least three years.
The Lesaffre company is the leading producer of yeast with 20 a per
cent share on the global market. It is present in 185 countries
world-wide and employs about 4,000 workers.
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