Bulgaria’s Advance Properties Acquires 100% Stake in Pharmaceutical Co Huvepharma
Rohatyn Group (“TRG”) has sold a 36.6% stake in pharmaceuticals company Huvepharma AD to Advance Properties OOD.
The deal was finalized on Wednesday with the signing of the contract by Kiril Domuschiev, President of Huvepharma AD, and Sobhi Hatem, Managing Director of TRG, according to Standard daily.
As a result of the transaction, Advance Properties controls a 100% stake in Huvepharma.
Advance Properties OOD is an investment holding company founded and controlled by Bulgarian entrepreneurs Kiril Domuschiev and Georgi Domuschiev.
Advance Properties controls strategic stakes in Navigation Maritime Bulgare (Navibulgar), shipping company Bulgarska Korabna Kompaniya EAD, and other companies in the sphere of port operations services, real estate, logistics, etc.
Huvepharma was founded in 2000 by the Domuschiev family. It is a global pharmaceutical company with a focus on developing, manufacturing and marketing human and animal health products.
The Rohatyn Group, founded in 2002, is a leading emerging markets investment firm headquartered in New York.
Kiril Domuschiev is known in Bulgaria as the owner of the recently successful football team Ludogorets Razgrad.
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