October 28, 2019 / 11:47 PM / 23 days ago

Canada's Knight Therapeutics to acquire Biotoscana control by Nov 29-filing

SAO PAULO, Oct 28 (Reuters) - Canada’s Knight Therapeutics Inc and shareholders of Biotoscana Investments expect to conclude transfer of control of the Latin American pharmaceutical company by Nov. 29, the latter said in a securities filing on Monday.

Knight will spend 596 million reais ($149 million) for 51.2% of Biotoscana. After the acquisition, the Canadian company will offer the same price, 10.96 reais per share, to minority shareholders.

The total deal value is expected to reach 1.16 billion reais, or 1.3 billion if Biotoscana’s debt is included, the company added. ($1 = 3.9902 reais) (Reporting by Tatiana Bautzer; Editing by Muralikumar Anantharaman)

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