OREANDA-NEWS. Pharmacy Chain 36.6 (MICEX:RU14APTK1007), a national leader in beauty and health retail goods, is announcing the successful completion of the sale of 52% of the Group's stake in OJSC Veropharm (MICEX: VRPH). The purchaser is OOO GardenHills, which beneficial owner is a Russian businessman Roman Avdeev.

As planned, all the proceeds from the transaction totalling RUB 5.0 billion were used to reduce Pharmacy Chain 36.6's debt burden.

Commenting on the deal, CEO and co-owner of OJSC Pharmacy Chain 36.6 Artem Bektemirov said:

“The deal was an important step on the path to revitalise Pharmacy Chain 36.6's business. The funds we received allowed us to more than halve our debt burden. The next stage is the reorganisation and optimisation of the retail chain itself. These measures are designed to open up new opportunities for company development and to increase its attractiveness for investors.”