Controlling shareholder Leon Koffler is negotiating a sale at a NIS 1.9 billion valuation.
Private equity firm CVC Capital Partners, which manages assets worth $52 billion, is close to a deal for buying 40% of Israeli drugstore chain Super-Pharm. Super-Pharm controlling shareholder Leon Koffler is negotiating with the fund for the sale of a 40% stake at a valuation of NIS 1.9 billion. The structure of the holding to be sold is 15% from the shares owned by Koffler himself, 15% held by Bank Leumi (TASE: LUMI) and 10% held by Israel Discount Bank (TASE: DSCT).
Last week it was reported that CVC had signed an agreement to buy a portfolio of women's health products from Teva for $703 million.
The aim of the sale of a stake in Super-Pharm is to assist the expansion of the chain overseas through an entity with global connections, since it has exhausted its main potential for growth in the local market. Globally, the chain will be up against competition from giant corporations and will have to deal with different regulation. Super-Pharm combines pharmacies with sales of cosmetics and general goods, and has been seeking a large backer for this format.
Published by Globes [online], Israel business news - www.globes-online.com - on September 24, 2017
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Leon Koffler photo: PR