Share |

Fuhrer family bids for Goldshield Group

The Fuhrer family, owners of the Israel-based pharmaceutical company Neopharm, has made an offer for the acquisition of the drug supplier Goldshield Group.

The bid was made through AIT Investment, a company set up by the Fuhrer family for the purpose of acquiring Goldshield. It has offered 440 pence per share for the company, valuing it at £162 million.

A family spokesman said: "We are excited to be supporting and investing in the next stage of Goldshield's development. The combination of their products and employees and our capital, network and expertise will provide increased opportunities for the company."

Ajit Patel, former CEO of Goldshield, is also expected to invest in the AIT acquisition attempt. He stepped down as head of the business in 2007 to successfully defend himself against share-price fixing allegations. 

The Neopharm group is the second largest pharmaceutical business in Israel, with 2008 revenues of over $300 million. The group was founded in 1941 in Tel Aviv and is owned by the Fuhrer family. David Fuhrer (pictured) is president of the company.

Goldshield is based in England and recorded revenues of £98 million in April 2009.

Want to get the latest family business/family office news direct to your desktop? Click here to register to receive our weekly newsletter

Are you a member of a multigenerational family business or family office? Click here to subscribe to our magazines

Click here >>