Bulgaria’s Rompharm Company, which has been investing heavily in arable land, has acquired 13.5% of local pharmaceutical maker Sopharma, turning into the third biggest shareholder in the public company. Rompharm has bought out the shares of Lyubomir Pavlov (left in the photo), the former partner of Sopharma’s majority owner Ognyan Donev (right) in the publishing business.
Central Depository data show that last week Rompharm Company acquired the 9-percent stake of Lyubomir Pavlov’s Financial Consultancy Company for 36 million leva. Prior to that Rompharm bought another 4.5% in Sopharma. Pavlov himself explained his withdrawal with plans to focus on investments in France.
The purchase marks a new investment stage for Rompharm. In the past two years the company has invested an estimated 200 million leva in arable land, which has made it the biggest private owner with some 90,000 ha.
To Sopharma, the deal is likely to result in increased exports to Russia and the former Soviet republics, where the new shareholder has strong positions.
Read more in Bulgarian here.