* IBA will get 60 pct of profit from current new drugs
* Separately says CEO to become vice-chairman
* Shares jump 35 percent to 6-mth high
BRUSSELS, JAN 9 - Belgian cancer treatment firm Ion
Beam Applications (IBA) expects to gain over 100
million euros ($127.14 million) after selling a stake of its
drugs unit to SK Capital Partners, sending its shares to a
It has sold 60 percent of its molecular imaging division --
which produces tracer drugs that can be used to help identify
cancers with radiology -- to U.S. based private investment firm
SK Capital Partners, it said on Monday.
While the company now forecasts a "significant" loss for
2011 as it writes down the division to bring it in line with the
180 million euros value of the transaction, it expects to get a
cash inflow of more than 100 million once the sale is completed.
To make up for the investments it has already made in the
unit, IBA will also receive 60 percent of the profit from new
molecules currently being developed by the division, even though
SK Capital Partners will own 60 percent of it.
IBA's shares rose as much as 35 percent after the
announcement, reaching a six-month high of 6.5 euros.
Separately, IBA announced a long-planned management
reshuffle under which its current chief strategic officer
Olivier Legrain will become chief executive on May 9, replacing
Pierre Mottet who will be vice-chairman.