CMS, working with Harneys Cyprus, has advised the European Bank for Reconstruction and Development on a EUR 22 million loan to the Cyprus-based Farmak Group and Ukraine's JSC Farmak for the acquisition of Poland's Symphar and the upgrade of JSC Farmak's IT systems.
According to the firm, 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's health, and other segments in the EU."
"Notwithstanding the challenges faced by Ukrainian businesses these days, the Farmak deal demonstrates strong resilience and willingness to expand into new markets in the pharmaceutical sector, including neighboring markets within the EU," CMS Partner Ihor Olekhov commented. "With the right financing in place, Ukrainian businesses can create added value and synergies on an international scale."
The CMS team included Poland-based Partner Rafal Zakrzewski and Senior Associate Evgeniy Vazhynskiy, Ukraine-based Olekhov and Associates Ivan Pshyk and Iryna Barlit, and additional teams in Switzerland and Germany.
