Oriola-KD Corporation in Sale of Russian Pharmacy Holdings

Cleary Gottlieb represented Oriola-KD Corporation, a Finnish-headquartered pharmaceutical retail and wholesale company, in the sale of its Russian pharmaceutical business to the Russian pharmacy chain Pharmacies 36.6. The transaction signed and closed on December 8, 2014, with a cash-and-debt-free selling price of RUB 3.7 billion, approximately €56 million. In 2013, the net sales of Oriola-KD’s Russian businesses were €978.8 million with an operating loss of €8.3 million.