Renova Group of companies signed agreement to sell Natur Produkt International to strategic investor

The "Renova" Group of companies has signed an agreement to sell 100% ownership of CJSC “Natur Produkt international”, a pharmaceutical company, to Valeant Pharmaceuticals International (NYSE: VRX; TSX: VRX). The deal is worth USD 180 million, with the condition of a possible increase of USD 5 million if “Natur Produkt International” manages to achieve the specified rate of growth in revenue by the time that the deal is closed in mid-2012. According to the financial results from 2011, the company’s net revenues amounted to USD 65 million.

“The company “Natur product” is included in the investment portfolio of the “Renova” Group of companies. For us, it was very important to transfer this company not to any random buyer, but to a strategic investor that has gained unique international experience in project development in this field and that is able to bring “Natur product” to a new level in its development,” stated Maxim Mayorets, the Chairman of the Board of CJSC “Natur Produkt International”, who is also the M&A Director and a Member of the Board of the “Renova” Group of companies.

“In this regard, we consider this transaction to be extremely successful for both the “Renova” Group of companies and for Valeant Pharmaceuticals International,” emphasized Maxim Mayorets. “The technical transaction will be closed within the next six months,” noted the top manager of the “Renova” Group.

Renova Group of Companies:
Russia’s lead private business group which owns and manages assets in metals, oil & gas, mining, chemical, construction industries, as well as in energy, telecommunications, high-tech engineering, public utilities and finance sectors in Russia and abroad (CIS, Switzerland, Italy, South Africa and the USA). Renova Group’s largest assets are represented by its stakes in TNK-BP, UC RUSAL, IES, and two Swiss technology corporations, OC Oerlikon and Sulzer.