Citigroup Fund Buys 38% of Bulgarian Pharmaceutical Company

Citigroup Fund Buys 38% of Bulgarian Pharmaceutical Company

In September, Citi Venture Capital International, a subsidiary of global investment bank Citigroup announced (CVCI) it is going to purchase 38% of the Bulgarian animal health company Huvepharma. Huvepharma is a manufacturer of pharmaceuticals for the livestock market, specializing in the poultry, swine and cattle segments.

It also produces nutritional feed additives and niche veterinary products. 65% of Huvepharma's produce is exported to the EU and North America. Huvepharma is the majoring shareholder of Biovet Peshtera, a leading European manufacturer and marketer of medicated and nutritional feed additives, enzymes, bulk active substances and pharmaceuticals for animal productivity and health.