International law firm CMS has advised its longstanding client, the European Bank for Reconstruction and Development (EBRD), on EUR 22,000,000 (twenty-two million Euro) loan to international pharmaceutical companies, Farmak Group Limited (Cyprus) and JSC Farmak (Ukraine). The loan facilitated the acquisition by Farmak Group Limited of Symphar Sp. z o.o. (Symphar), Polish pharmaceutical company, and upgrade of JSC Farmak information technology (IT) systems.
The Polish strategic acquisition aligns with Farmak's international expansion strategy, building upon previous successful acquisitions in the Czech Republic and Slovakia. It also strengthens Farmak's position in diabetology, psychiatry, neurology, women health and other segments in the EU.
CMS Banking & Finance partner Rafal Zakrzewski, who advised on English law aspects of and lead the deal overall, comments: “We are pleased to have supported EBRD on this latest transaction, which facilitates Farmak’s expansion and represents a substantial investment in the pharmaceutical sector in the EU. This is the latest in a series of loans that CMS has advised EBRD on.”
CMS Banking & Finance partner Ihor Olekhov, who advised on Ukrainian law aspects of the deal, comments: “Notwithstanding the challenges faced by Ukrainian businesses these days, Farmak deal demonstrates strong resilience and willingness to expand into new markets in pharmaceutical sector, including the neighbouring markets within the EU. With the right financing in place, Ukrainian business can create added value and synergies on an international scale”.
A multi-jurisdictional CMS team advised EBRD on the loan to Farmak. English law advice was led by Rafal Zakrzewski with assistance from Evgeniy Vazhynskiy, while Ihor Olekhov, supported by Ivan Pshyk and Iryna Barlit, provided Ukrainian law advice. Support was also provided by Harneys Aristodemou Loizides Yiolitis LLC, special Cypriot counsel to EBRD, CMS von Erlach Partners Ltd, special Swiss counsel to EBRD, CMS Hasche Sigle Partnerschaft von Rechtsanwälten und Steuerberatern mbB, special German counsel to EBRD and CMS Cameron McKenna Nabarro Olswang Pośniak i Bejm sp.k., special Polish counsel to EBRD.
For further information, please contact:
Darina Gordienko
E: darina.gordienko@cms-cmno.com
T: +38044 391 3377
Notes to editors:
About CMS
Founded in 1999, CMS is an integrated, multi-jurisdictional organisation of law firms that offers full-service legal and tax advice. With 81 offices in 45 countries across the world and more than 5,000 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.
The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate / M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment & Pensions, Intellectual Property and Real Estate.
For more information, please visit cms.law
