Richter of Hungary to take control of pharmaceuticals company GZF Polfa

Hungarian pharmaceuticals firm Richter Gedeon has been chosen to buy control of Poland's state-owned medium-sized drug producer GZF Polfa. "We have chosen the Hungarian firm because of its attractive investment plan, but the deal will not be sealed until Richter reaches an agreement with the employees," Jacek Niescior, an official from Poland's Mazowieckie province, told Reuters. Richter spokesperson Zsuzsa Beke earlier in the day confirmed the Hungarian firm had placed an offer to buy a majority stake in GZF Polfa, and added that a further statement about the transaction could be issued next week. Puls Biznesu reported yesterday that Richter was to inject zl.150 million to boost GZF Polfa's capital, and invest a further zl.50 million to zl.60 million. Niescior would not confirm the figures and described them as not precise. GZF Polfa employs some 1,100 people and made a net profit last year of zl.5.7 million on sales of around zl.140 million. (Reuters)