ECONOMY

Greek firm Marinopoulos mulls sale of Famar

greek-firm-marinopoulos-mulls-sale-of-famar

Marinopoulos Group, the Greek company that manages franchises for Carrefour SA supermarkets and Gap Inc retailers, is considering the sale of its pharmaceutical manufacturing business Famar SA, according to people with knowledge of the matter.

The sale of Famar may fetch about 400 million euros and attract interest from other drugmakers and private equity firms, two of the people said, asking not to be identified because the deliberations are private.

Marinopoulos is working with Jefferies Group to find a buyer, they said.

No final decision about a price or sale of the unit has been made, the people said.

Established in 1949, Famar has a presence in markets such as Greece, Italy, Spain and the Netherlands, according to its website.

BC Partners announced a similar deal in June, buying Pharmathen SA, another drug manufacturer based in Greece.

[Bloomberg]