Krauze plans to sell Prokom's Bioton stake to Polpharma
Shortly before the long weekend Ryszard Krauze, owner of Prokom Investments, surprised the market with news about selling Prokom's stake in Bioton to Polpharma for zł.450 million with an additional payment of zł.50 million once Bioton registers a new product.
"We are about to begin due diligence of Bioton. I believe this will take a month. We shall conclude the agreement if nothing unexpected happens during the analysis. I prefer to remain cautious, as I still remember splitting with Gedeon Richter despite the talks being very advanced," said Jerzy Starak, owner of Polpharma. He sees business sense in the transaction as he believes that biotechnology products are the future of the pharmaceutical sector, but for the time being there will be no cooperation between his two firms.
"These are two different stories, different types of investment. Polpharma is a strategic company for me, while Bioton a portfolio investment. It could be the case that there might be some cooperation between these firms, but there is nothing to talk about for now," said the investor.
Starak also denied rumors about plans to sell Polpharma and for the time being he is not looking for a partner for the firm.
Sources: Puls Biznesu, Rzeczpospolita (M.M.)
"We are about to begin due diligence of Bioton. I believe this will take a month. We shall conclude the agreement if nothing unexpected happens during the analysis. I prefer to remain cautious, as I still remember splitting with Gedeon Richter despite the talks being very advanced," said Jerzy Starak, owner of Polpharma. He sees business sense in the transaction as he believes that biotechnology products are the future of the pharmaceutical sector, but for the time being there will be no cooperation between his two firms.
"These are two different stories, different types of investment. Polpharma is a strategic company for me, while Bioton a portfolio investment. It could be the case that there might be some cooperation between these firms, but there is nothing to talk about for now," said the investor.
Starak also denied rumors about plans to sell Polpharma and for the time being he is not looking for a partner for the firm.
Sources: Puls Biznesu, Rzeczpospolita (M.M.)
