FC Kub representing Darnitsa pharmaceutical company buys 30% in Borschahivka chemical plant
A 29.95% stake in public joint-stock company Research and Industrial Center Borschahivka chemical and pharmaceutical plant (Kyiv) has been bought by the financial company Kub, which represents the interests of Darnitsa pharmaceutical company.
The auction was held on the Perspectiva Stock Exchange. The starting price of the stake was UAH 143 million.
Five bids were submitted, and only two companies which paid the bid guarantee of UAH 28 million were allowed to participate in the auction.
Director of the Municipal Ownership Department at Kyiv City Administration Andriy Huts told reporters that the acquisition of the stake would not allow Darnitsa to influence the economic operations of Borschahivka chemical plant and to apply non-market competitive methods.
"Darnitsa will not be able to influence the economic operation of Borschahivka chemical and pharmaceutical plant," he said.
Borschahivka chemical and pharmaceutical plant was set up in the 1990s on the basis of several facilities of the Darnitsa chemical and pharmaceutical amalgamation, after a series of reorganizations.
At present, the plant produces over 100 types of medicine. The company's share of the Ukrainian medicine market is up to 10%.