RDIF, RCIF, Middle Eastern funds buy 28% in Alium pharma maker
MOSCOW, Jul 9 (PRIME) -- A consortium of investors comprising the Russian Direct Investment Fund (RDIF), the Russia–China Investment Fund (RCIF), and large Middle Eastern funds has closed a 4 billion ruble acquisition of 28% in pharmaceutical holding Alium, from Sistema and VTB, the RDIF said in a statement on Tuesday.
VTB and Sistema, together with the management of Pharmaceutical Enterprise Obolenskoe, working under the OBL Pharm brand 95.15% in OBL Pharm in December. Sistema wanted to merge it with its Binnopharm to create a pharmaceutical holding. Alium would become one of Russia’s top 10 commercial pharmaceutical companies.
“We have finished an important stage of creation of Alium holding, whose products will help satisfy market demand for modern efficient medical products. The fund and its partners plan to consider attractive investment projects in the pharmaceutical sector in the future,” the RDIF said quoting CEO Kirill Dmitriev.
After the sale of the 28% to the consortium, Sistema’s direct stake in OBL Pharm amounts to 13%, while VTB Bank’s stake stands at 46%.