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Provider: Wright Reports
Provider: Reuters Investment Profile
Provider: GlobalData
Provider: GlobalData

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Biohit Oyj Completes Acquisition of Euroclone and Forms New Subsidiary

Thursday, 18 Apr 2013 09:30am EDT 

Biohit Oyj announced the closing of Euroclone acquisition on April 18, 2013. The new company, Biohit Italy S.r.l., will begin operations as a Biohit subsidiary focusing on marketing and distribution of company’s diagnostic products in Italy. New subsidiary has distribution network and market knowledge of Italian market. The acquisition was closed and the share issue was subscribed in accordance with the exchange rate of the day prior to the closing (April 17, 2013) thus resulting as the value of the acquisition EUR 1,126,800.00. The new shares will be registered with Euroclear system approximately between April 29, 2013 and May 6, 2013. The Company also announced its new organization structure and management. The Company has from April 18, 2013 onwards three subsidiaries: UK, China and Italy. The new subsidiary will initially have two employees, which increases the number of the Group's staff to 37. Franco Aiolfi has been appointed to subsidiary Chief Executive Officer. 

Company Quote

-0.03 -0.54%
7:38am EST