Pharmacy Chain 36.6 may sell stake to SIA

Pharmacy Chain 36.6 may be poised to sell a share of itself to Russian pharmaceutical distributor SIA International during its planned additional share issue, according to local financial sources. The pharmacy chain plans to issue new shares to help refinance debts and settle accounts with suppliers. SIA is said to be considering a purchase of up to 49% in the chain. SIA International's President, Igor Rudinsky, said the company had yet to decide whether to participate in the pharmacy's share sale which will begin after existing shareholders exercise pre-emptive rights. Pharmacy Chain 36.6 shareholders are understood to want to retail control of the retailer but are considering attracting new investors.