In today's m&a news, Abbott announced a definitive agreement to acquire Veropharm, a leading Russian pharmaceutical manufacturer.
Abbott will acquire Limited Liability Company Garden Hills, the holding company that currently owns a controlling interest in Veropharm, for between 13.6 billion rubles and 17 billion rubles (or a range of approximately $395 million to $495 million U.S. dollars) depending on Garden Hills' share ownership of Veropharm at time of close.
Garden Hills currently owns more than 80 percent of Veropharm but is expected to own more than 95 percent by the time the transaction closes.
Pursuant to the agreement, Abbott will also assume net debt of 4.7 billion rubles (or approximately $136 million U.S. dollars).
The purchase price Abbott pays for Garden Hills is determined based on the percentage of Veropharm shares owned by Garden Hills at the time Abbott purchases Garden Hills.
If Garden Hills owns 100 percent of the shares of Veropharm at that time, the total purchase price would be 17 billion rubles (or approximately $495 million U.S. dollars).
Abbott will also assume net debt of 4.7 billion rubles (or approximately $136 million U.S. dollars).
For further deal information visit Current Agreements (subscription required)
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