According to the company ServPRO, сypriot pharmaceutical company Remedica has been purchased by South African Ascendis Health, an international company listed on the Johannesburg Stock Exchange in a deal worth a reported € 260m.
The acquisition is a step taken by Ascendis Health in order to achieve its objective of international expansion.
The signing ceremony took place in Limassol last week and has been characterised by the Finance Minister, Mr. Harris Georgiades, as one of the largest acquisitions of a Cypriot company that has ever been made.
Furthermore, Minister Georgiades emphasized that the said acquisition is “strong vote of confidence in the Cyprus economy” as well as the fact that actions like the said acquisition send out the message that Cyprus is an attractive foreign investment destination.
Read more on the website ServPRO.