CROATIA'S PLIVA BUYS ADDITIONAL PART-OWNERSHIP IN CZECH LACHEMA

ZAGREB, April 27 (Hina) - Croatia's largest pharmaceutical company Pliva on Thursday signed a contract on purchasing from the institutional investor 26.08 percent of part-ownership in Czech pharmaceutical company Lachema, for US$4.9 million. Pliva and the same investor also signed a contract on the possible buying of an additional 1.6 percent of part-ownership in Lachema within 33 days, for US$300,000, sources from the Croatian company reported. The transaction will be carried out through Pliva Krakow, Pliva's sister company in Poland which is to become part-owner of more than 75 percent in Lachema. In keeping with Czech binding norms, Pliva will thus expand the public bid on Lachema's other shareholders. Regardless of the outcome of the possible buying of additional shares and the public bid for other shareholders, the transaction will make Pliva Krakow part-owner of 92.83 percent of Lachema, for which a total of US$31.5 million has been paid. Lachema is one of the leading pharmaceutical companies in the Czech Republic which develops, manufactures and sells medicines, diagnostic material, and pharmaceutical substances. Last year, Lachema's earnings amounted to US$30.5 million, while the net value of its property was US$29.8 million. (hina) ha jn