January 8, 2020 / 10:10 AM / 13 days ago

BRIEF-Getinge Acquires Applikon Biotech

Jan 8 (Reuters) - Getinge AB:

* ACQUIRED 100% OF THE SHARES IN APPLIKON BIOTECHNOLOGY B.V.

* UNDER THE TERMS, GETINGE WILL ACQUIRE ALL OUTSTANDING SHARES IN APPLIKON BIOTECHNOLOGY AND WILL PAY APPROXIMATELY SEK 840 MILLION IN CASH ON CLOSING FOR 100 % OF THE SHARES

* IN ADDITION, A MAXIMUM EARN OUT OF APPROXIMATELY SEK 630 MILLION CAN BE PAID OUT IN 2021-2022 IF AGREED EARNINGS PERFORMANCE IS ACHIEVED IN 2020-2021

* ACQUISITION WILL BE FINANCED THROUGH DEBT AND THE NET DEBT TO EBITDA RATIO IS EXPECTED TO BE IMPACTED BY 0.2X AT CLOSING OF DEAL

* THE INTEGRATION WILL BE STEPWISE WITH FULL EFFECT FROM 2022

* GETINGE EXPECTS NO MATERIAL INTEGRATION COSTS IN 2020-2021

Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

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