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Attempt to privatise Galenika falls through

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An attempt to privatise Serbia’s pharmaceuticals giant Galenika fell through on Wednesday after a meeting with a potential strategic partner, a Russian-British consortium, ended in no deal on a takeover of the company’s debts to commercial banks.

Representatives of a comission tasked with implementing the strategic partnership procedure had begun negotiations with the consortium of UK-based Frontier Pharm and Russia’s LLC NPA Petrovax Pharm in April 2016.

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