Toksöz Group Sells 30% Stake in Sanovel to Yamma Investments

Toksöz Grup announced the sale of a 30% stake in Sanovel to Yamma Investments for USD 200 million. Luxembourg-based Yamma Investments has agreed with Sanovel on the acquisition of a minority stake in the generic pharmaceutical manufacturing sector. The transaction will enable Toksöz Grup companies to reduce their balance sheets and meet tax obligations, while allowing Sanovel to pursue research and development efforts for new products and invest in exports. The sale is expected to be completed following receipt of necessary legal approvals.