Private Equity Fund Lamda Partners acquires a 20%-stake in Greek
Pharma-, Healthcare-, Cosmetics- an
(Thomson Reuters ONE) - London/Athens, 7.8.2009. Lamda Partners L.P., a private equity fund,has irrevocably undertaken to participate in the ALAPIS share capitalincrease through one or more of its wholly owned subsidiaries byinvesting approximately ? 90.2 million through the exercise of196,120,044 rights, representing 20% of the new ordinary shares.ALAPIS S.A. is involved in the manufacturing and distribution ofpharmaceuticals and parapharmaceutical products, veterinarypharmaceuticals, cosmetics and detergents. At the same time, itdistributes small animal accessories, medical equipment and healthequipment products. The Athens based company is expected toaccomplish a ? 1.2 billion turnover and ? 300 million EBITDA for 2009according to financial analysts."From our perspective, the ALAPIS share is clearly undervalued,looking at a 35% discount to the peer group on average and to thesignificant discount of the share to its book value of ? 1.60. Thecompany model is changing to focus even more on high-margin business.And with many new generics now in the sales pipeline and the expectedrecovery of the detergents as well as the cosmetics business, we seeALAPIS as an excellent investment opportunity" said LavrentisLavrentiadis, Director and Partner of Lamda Partners L.P..Lavrentiadis is also a former President and CEO of ALAPIS. Sal.Oppenheim Research recently issued a research report finding "thegrowth momentum is accelerating" at ALAPIS, concluding the study witha "Strong Buy"."We believe that ALAPIS will continue to monitor the market forfitting company targets, some of them are likely to be available atlow prices in the wake of the current economic situation" adds MarioAl-Jebouri, Partner of Lamda Partners L.P.. According to LamdaPartners, there is an excellent window of opportunity to acquiresmaller market players as they gradually exit the market due to theunavailability of liquidity. Alapis has successfully consolidated 13sector companies worth ? 500 million since 2007.End of release.About Lamda PartnerLamda Partners is a newly established private equity fund registeredin Jersey and based in London under the management of a team ofseasoned entrepreneurs with experience in 'private-equity' styleinvestments backed by formidable execution skills.Lamda Partners L.P.'s (the Fund) investment strategy is to capitalizeon current market dislocations and invest in fundamentally sound, yetundervalued or distressed companies with solid growth fundamentals atattractive entry levels. The Fund will focus in parts of SoutheasternEurope where it has the most expertise and ability to deliversuperior returns to investors. The Fund will create regionalchampions through consolidation plays and synergy realization inpreferred sectors like Chemicals, Healthcare, Energy and Utilities,Infrastructure, FMCG, Financial Services and Industrial &Manufacturing.Dr. Lavrentis Lavrentiadis is one of the management team members andhas nearly 20 years' experience in creating and managing investmentsin companies within the anticipated focus sectors of Lamda Partnersinvestments, including Lamda Detergents S.A. (chemicals), NeochimikiS.A. (chemicals) and Alapis S.A. (healthcare)Questions?Stephan Holzinger, SpokesmanM. +49 175 59308office(at)activestor.euThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 07.08.2009 - 14:11 Uhr
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