Drugstore company Pharmacy Chain 36.6 is to merge with rival chain A.V.E. and issue additional shares, in a step to consolidate a fragmented sector, the company said in a statement on Thursday.
Pharmacy Chain 36.6, with a market value of $68 million, said its major shareholders, Artyom Bektemirov and Sergei Krivosheev, reached a deal with the owners of A.V.E. to merge their businesses.
36.6 will issue additional shares priced at 22.40 rubles ($0.67) a share for the purpose of the deal.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.