The founders of the A&D Pharma group, the biggest player in the pharmaceutical industry, have achieved a 365 million-euro business in the first nine months of the year and could sell the company next year. They are now selecting consultants to help them with the process, market sources say.
The founders, businessmen Ludovic Robert, Michel Eid, Roger Akoury and Walid Abboud control about 60% of the company and lately have repurchased shares from the London Stock Exchange where the company is traded. They also bought some in deals that had nothing to do with the capital market.
"We were contacted for a potential sale. There were also advisers who suggested to (sell i.e.), but I don't think the market allows us to get the right price," said one of the shareholders, who wished to remain anonymous. He, however, hinted that if they got the right price, the shareholders would sell.
Market sources say that the options the shareholders have at this time are either a sale, the delisting by founding shareholders or delisting by founders together with an investment fund.
A&D Pharma was in talks with ING over the mandate to sell the company, though it will most likely employ two consultants, ZF's sources said.
The deal might be concluded in the second half of next year. The shareholders would therefore be at their second exit from the company after having sold some 30% on the London Stock Exchange for more than 120 million euros in 2006.
The latest transactions with A&D Pharma stock in London were closed at 4 euros per share, which puts capitalisation at 133 million euros.
The valuation of the company, however, will be done separately from the London Stock Exchange based on this year's financial results. A&D Pharma will soon integrate a number of companies operating in the pharmaceutical industry, which its shareholders own in neighbouring
