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Provider: Reuters Investment Profile
$20.00

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Galapagos confirms completion of BioFocus and Argenta divestiture


Tuesday, 1 Apr 2014 01:31am EDT 

Galapagos NV:Confirms completion of transaction announced on March 13 to sell BioFocus and Argenta service division operations to Charles River Laboratories International for up to 134 million euros.All closing conditions of definitive agreement have been met.Purchase price 129 million euros in cash, subject to certain post-closing working capital adjustments.Galapagos eligible to receive 5 million euros earnout payment after 12 months, upon achievement of revenue target for divested service division. 

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