20m-euro credit for Biofarm

Bucharest-based Biofarm will hold a General Meeting of Shareholders on December 11 to discuss the approval of a credit ceiling for the company in 2007, which should not exceed 20 million euros, including the guarantees that go with it. Proposals regarding the company’s participation in a consortium with a view to acquire a stake of shares issued by Antibiotice Iasi as part of its privatisation process will also be submitted to the shareholders for approval. Recently Biofarm has announced it was heading a consortium made up of “at least” SIF Oltenia, SIF Banat-Crisana, SIF Moldova, SSIF Broker and businessman Dumitru Tudor and had submitted a non-binding letter of intent regarding the purchase of shares in Antibiotice.