Celesio AG (DB:CLS1) agreed to acquire Belmedis SA, Cophana SA, Alphar Partners SA, Espafarmed SLU and 54.26% stake in Sofiadis NV from Groupe Welcoop SA on December 15, 2015. The transaction is subject to the approval by the responsible competition authorities. The completion of deal is scheduled for the second or third quarter of calendar year 2016. Celesio AG (DB:CLS1) completed the acquisition of Belmedis SA, Cophana SA, Alphar Partners SA, Espafarmed SLU and 54.26% stake in Sofiadis NV from Groupe Welcoop SA on May 2, 2017. More than 450 Belmedis and Cophana employees will join Celesio as part of the acquisition. As of April 20, 2017, the competition authority approved the transaction.