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Zentiva to get eur 58mln Turkish deal adjustment

Thu Mar 6, 2008 9:48pm IST
 
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PRAGUE, March 6 (Reuters) - Czech generic drugs maker Zentiva (ZNTVsp.PR: Quote, Profile, Research) will receive 58 million euros ($88.89 million) as a post-closing adjustment of its deal to acquire a 75 percent stake in Turkey's Eczacibasi, Zentiva said on Thursday.

"Zentiva expects to receive payment of this amount within a few days," Zentiva said.

Zentiva agreed to buy the stake in the Turkish firm for 460 million euros last year. The adjustment is related to a change in Ecaczibasi's cash position between the signing of the deal and its closing. (Reporting by Jan Lopatka; Editing by Erica Billingham)

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