CMS advisesd EBRD on EUR 22,000,000 loan to Farmak Group for pharma acquisition in Poland and upgrade of the IT systems

International law firm CMS has advised its longstanding client, the European Bank for Reconstruction and Development (EBRD), on EUR 22,000,000 (twenty-two million Euro) loan to international pharmaceutical companies, Farmak Group Limited (Cyprus) and JSC Farmak (Ukraine). The loan facilitated the acquisition by Farmak Group Limited of Symphar Sp. z o.o. (Symphar), Polish pharmaceutical company, and upgrade of JSC Farmak information technology (IT) systems.

The Polish strategic acquisition aligns with Farmak's international expansion strategy, building upon previous successful acquisitions in the Czech Republic and Slovakia. It also strengthens Farmak's position in diabetology, psychiatry, neurology, women health and other segments in the EU.

CMS Banking & Finance partner Rafal Zakrzewski, who advised on English law aspects of and led the deal overall, comments: “We are pleased to have supported EBRD on this latest transaction, which facilitates Farmak’s expansion and represents a substantial investment in the pharmaceutical sector in the EU. This is the latest in a series of loans that CMS has advised EBRD on.”

CMS Banking & Finance partner Ihor Olekhov, who advised on Ukrainian law aspects of the deal, comments: “Notwithstanding the challenges faced by Ukrainian businesses these days, Farmak deal demonstrates strong resilience and willingness to expand into new markets in pharmaceutical sector, including the neighbouring markets within the EU.  With the right financing in place, Ukrainian business can create added value and synergies on an international scale”.

A multi-jurisdictional CMS team advised EBRD on the loan to Farmak. English law advice was led by Rafal Zakrzewski with assistance from Evgeniy Vazhynskiy, while Ihor Olekhov, supported by Ivan Pshyk and Iryna Barlit, provided Ukrainian law advice. Support was also provided by Harneys Aristodemou Loizides Yiolitis LLC, special Cypriot counsel to EBRD, CMS von Erlach Partners Ltd, special Swiss counsel to EBRD, CMS Hasche Sigle Partnerschaft von Rechtsanwälten und Steuerberatern mbB, special German counsel to EBRD and CMS Cameron McKenna Nabarro Olswang Pośniak i Bejm sp.k., special Polish counsel to EBRD.