Oriola-backed Kronans Apotek to merge with Euroapotheca-backed Apoteksgruppen in an $800m deal.

Oriola-backed Kronans Apotek, a Swedish pharmacy company, agreed to merge with Euroapotheca-backed Apoteksgruppen, a pharmacy chain, in an $800m deal. "We are delighted to publish the planned merger of Oriola's Kronans Apotek and Euroapotheca's Apoteksgruppen, creating significant synergy opportunities in the pharmacy business. The contemplated transaction is a logical step in Oriola's transformation and consequently Oriola will focus on its societal role as an infrastructure company of pharmaceuticals distribution and providing services to pharmaceutical companies and pharmacies. With this common venture, during the next 2-3 years the new company will concentrate in capturing the synergies," Panu Routila, Oriola Chairman of the Board.