Drugstore 33.6 to Merge With Rival, Issue Shares

By The Moscow Times

Nov. 28, 2013

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.

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