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TPG Buying Half of Russian Drug Distributor: WSJ

Reuters
Tuesday, 8 Apr 2008 | 2:03 AM ET

Private equity firm TPG is planning to announce that it is buying half of SIA International, Russia's largest pharmaceutical distributor, for $800 million, the Wall Street Journal reported on its Web site.

TPG is paying cash for the SIA stake, which it is purchasing from Igor Rudinsky, SIA's founder and sole owner, the report said.

The deal with be the biggest private equity transaction ever in Russia, the Journal said.

TPG representatives could not be reached immediately for comment.