German group Phoenix has been carrying exclusive negotiations to take over Romanian group Farmexim, one of the biggest pharmaceutical distributors and retailers in Romania, according to local mergers&acquisitions journal Mirsanu.ro.

Farmexim, which is controlled by Romanian entrepreneur Ovidiu Buluc, had a turnover of over EUR 400 million in 2014. The group includes drug distributor Farmexim and the Help Net drug store network.

A deal that would include both companies would be between EUR 120 million and EUR 150 million, according to sources in the M&A market quoted by Mirsanu.ro.

Phoenix is a market leader in Europe in the integrated medical services market, with EUR 22,6 billion in sales, but it is not currently present in Romania. A group’s representative denied to comment on the group’s intention to enter the Romanian market.

Farmexim is one of the biggest groups in the local drug distribution and retail market. Its main competitors are A&D Pharma, Farmexpert, Fildas Trading, and Polisano.

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editor@romania-insider.com