TGS Baltic has advised Euroapteek, a subsidiary of Euroapotheca group, on signing an agreement with Yliopiston Apteekki OY to acquire the Ulikooli Apteek pharmacy chain in Estonia. Yliopiston Apteekki OY, a Finnish state company, was advised by Cobalt.
According to TGS Baltic, "after completion of the transaction, Euroapteek will buy and integrate 13 Ulikooli Apteek pharmacies. Currently Euroapteek is ready to provide franchise services to 11 pharmacies that work under Ulikooli Apteek brand name. Thus, Euroapteek has two pharmacy chains in the pipeline to add and integrate to its group structure this quarter after the company gets the final approval from supervisory institutions – recently acquired Apoteksgruppen in Sweden and Ulikooli Apteek in Estonia."
The TGS Baltic team consisted of recently promoted Partners Kadri Kallas and Sander Karson.
The Cobalt team was led by Senior Associate Karl Kull and supervised by Partner Peeter Kutman.
Editor's note: On March 16, 2018 TGS Baltic announced that the deal had closed.
