Solvay says to pay 177.6 mln euros for Innogenetics
BRUSSELS, April 25 |
BRUSSELS, April 25 (Reuters) - Belgian drugs, chemicals and plastics maker Solvay (SOLB.BR) said on Friday it was paying 177.6 million euros ($276.9 million) to take full control of Belgian biotech company Innogenetics INNX.BR.
It said it expected the offer, which it said was friendly, to close in the second quarter of 2008. Reference shareholders holding 18.48 percent of the shares had committed to tender them.
Solvay already owns 6.77 percent of Innogenetics.
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