Gedeon Richter adds 40m euros to its capital

Gedeon Richter, a part of the Hungarian group Richter, the only player with integrated operations on the local pharmaceutical market, will increase its share capital by 65 million RON (19 million euros), after its Hungarian shareholders added another 6 million euros to the capital of its local branches. Richter shareholders’ also approved the taking out of a 22.8 million-euro credit from the majority shareholder, Hungarian-based Richter Gedeon Vegyeszeti. “The contract is valid from 2007 to 2014, with an interest rate of 4.3% per year. The loan must start being paid back in 2008, through annual instalments, until December 31, 2014,” reads the announcement published by the company in the Official Gazette. Company representatives did not, however, provide any comment by the time this issue was ready for print. The funds raised will be used to finance the 2007 investment programme, confirmed the quoted source. According to data from the Trade Register, the share capital of Gedeon Richter Romania SA stands at 95.14 million RON (28 million euros), therefore a 65 million-RON (19 million-euro) increase would result in a 160 million-RON (47 million-euro) share capital.