Relad Pharma, one of Romania's major drug distributors, and Relad International, a company operating drug imports, are going to contract a loan worth as much as 60 million euros, according to a statement published in the Official Gazette.
According to a decision by the General Meeting of Shareholders, Relad Pharma will act as a borrower/co-borrower together with Relad International to contract the loan.
The company's representatives chose not to make any comment on this information.
The shareholders in Relad Pharma are Relad International (99.6938%), Expert Finance International (with a stake of 0.1224%), West Management International (0.1163%), Zigu Sterie (0.0613%) and Relad Logistic (holding 0.0062%).
On the other hand, the shareholders in Relad International are West Management International (40%), Expert Finance International (40%), Zigu Manu Tiberius Marius (20%).
The loan will be secured through receivables, freight stocks, and other guarantees. Relad group last year generated turnover worth above 200 million euros.
In 2005, the company reported turnover in excess of 130 million euros on the distribution segment alone.
The first Relad warehouse was set up in Bucharest in 1994 and the company currently owns a central warehouse and 15 local warehouses equipped with all storage facilities, according to the information displayed on Relad's website. At the same time, Relad group has 600 employees and owns a car fleet made up of 270 vehicles.
Domestic players on the drug distribution market have sealed some of the largest financing deals lately. Thus, A & D Pharma borrowed 100 million euros in 2006, while Fildas managed to draw 80 million euros from banks this year.
Under the circumstances, Relad may become the third biggest player on the domestic pharmaceutical market to contract loans worth above 50 million eu
