Oriola Kd Oyj: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Oriola-KD Oyj To Buy Swedish Pharmacy Chain-Reuters-COMPLETE STORY
Reuters reported that Oriola-KD Oyj announced that Oriola-KD Holding Sverige AB, an Oriola-KD company, has signed an agreement to acquire Sweden's pharmacy chain Medstop Group Holding AB (Medstop) from Segulah Management IV Limited. The total value of the acquisition is estimated to be SEK 1,460 million (EUR 176 million), comprising of three separate items: a SEK 680 million (EUR 82 million) cash payment, net debt of the acquired company, and a conditional earn-out payment payable on the basis of the consolidated 2015 EBITDA of Oriola-KD's combined Swedish Retail business. The Company will finance the acquisition in full with a bank loan. The transaction is expected to be completed in the second quarter of 2013 subject to the Swedish Competition Authority (Konkurrensverket) and Medical Products Agency (Lakemedelsverket) approvals. The Medstop pharmacy chain has a total of 65 pharmacies located in shopping centers and city center locations in the Stockholm, Gothenburg and Malmo areas. In 2012, the net sales of Medstop were EUR 273 million and EBITDA of the chain was EUR 11.6 million, excluding non-recurring items, corresponding to approximately 4.2% of net sales. The net debt of the pharmacy chain at year end 2012 was EUR 75 million and total assets at the end of 2012 were EUR 215 million. Medstop's market share of the Swedish pharmacy market was approximately 7.5% at the end of 2012. The pharmacy chain employed 578 people at the end of 2012.
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