The public buy-out offering period for Sicomed shares expires today as it was extended from the previous deadline of December 8th. Note that Zentiva offered RON 1.37 per share for the remaining stake, a total of USD 92.5m. As we previously noted, Zentiva plans to de-list Sicomed from the Bucharest Stock Exchange. In our projections, we have assumed that Zentiva will gain 100% control of Sicomed. We expect no particular impact on today's Zentiva price and reiterate our Buy recommendation.