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<p align="center"><b>PLIVA increases its stake in PLIVA Krakow from 81.5% to 87.67%</b></p> |
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<p>Zagreb, December 16, 1999</p> |
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<p>PLIVA today announced that it has acquired an additional 6.17 per cent share |
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capital of PLIVA Krakow S.A. from Handlowy Investments S.A., for a cash consideration |
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of USD 16,008,726.29.</p> |
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<p>Handlowy Investments S.A. and PLIVA formed a purchasing consortium in October |
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1997, during PLIVA's acquisition of its majority stake in PLIVA Krakow S.A. |
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(former K.Z.F. "Polfa" Krakow S.A.).</p> |
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<p>By this acquisition PLIVA has become the owner of 87.67 per cent stake in PLIVA |
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Krakow S.A. </p> |
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